Co-op pledges £70m to create thousands of apprenticeships by 2030
Co-op has pledged to invest £70 million through its Levy Share service in creating 7,000 matched apprenticeships by 2030.
The news comes as figures show that apprenticeship starts have fallen by 31% since the introduction of the Apprenticeship Levy in 2017.
Launched in 2021, Co-op Levy Share enables levy paying employers to transfer unused apprenticeship levy funds to businesses, charities, and community organisations.
To date, the scheme has raised over £40 million and matched over 3,800 apprenticeships, with two-thirds in the most deprived communities and a third in the care sector.
Subscribe to TRBCo-op said it is helping tackle skills shortages in areas such as rail engineering, early years education through its partnership with The Early Years’ Foundation, and digital, while opening doors for underrepresented groups.
To help understand and address barriers to opportunity, Co-op is calling on Skills England to start collecting socio-economic background data for apprenticeships to enable policymakers, employers, and educators to target support where it most needed most.
Claire Costello, chief people and inclusion officer at Co-op, said: “We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity. Four years on, alongside our contributing partners, we’ve already channelled £40 million into thousands of lifechanging apprenticeships, and today we’re going further, committing £70 million to create 7,000 apprenticeships by 2030.
“But to truly drive social mobility, we need to measure who benefits. That’s why we’re calling on Skills England to start collecting socio economic background data for apprenticeships. Without it, the system risks leaving some groups behind. Shining a light on access means we can target support where it’s needed most and build a fairer future for all.”
