As we know, the economy isn't just about big, abstract numbers and international competitiveness - small businesses and working people feel changes in our economy most acutely, and I'm proud to belong to a Government which works to make our economy deliver for those groups.
As part of that agenda, the Prime Minister set out a major package of reforms last week, which will create 20,000 more apprenticeship places and slash red tape for thousands of small businesses. We will fully fund apprenticeships in small businesses from 1 April by paying the full cost of training for anyone up to the age of 21, in addition to increasing the amount of funding that employers paying the Apprenticeship Levy can pass onto other businesses. Large employers will now be able to transfer up to 50 percent of their funds to support other businesses to take on apprenticeships, helping small businesses get the skilled workers that they need.
In real terms, that means more jobs for young people who want to focus on building skills and learning a trade, and more employees for small businesses, who often struggle to meet their staffing requirements. Pairing these two groups together not only helps us to meet both of their needs, but shows our commitment to joined-up economic thinking - this isn't about stop gap solutions, it's about creating a long-term economic ecosystem that works for everyone.
In my ministerial brief, I'll continue to fight for both small businesses and the rollout of more apprenticeship places, including right here in Hitchin & Harpenden. As important as it is to focus on the broad sweeping macroeconomic narratives that politicians love to think about, it's just as important to focus on how those narratives impact the lives of real people working to make a living in the real economy.
