Spending on degree-level apprenticeships has hit the half-a-billion-pound mark in a single year for the first time, and now accounts for over a fifth of England’s annual apprenticeship budget.
Figures also suggest level 6 and 7 apprenticeships will take an even bigger slice of the levy pie this year, as costly courses for accountancy/taxation professionals, senior leaders and chartered managers continue to soar in popularity.
Experts warn that while degree-level apprenticeships have potential to boost social mobility, the rapid rise in their share of the market is squeezing out opportunities for younger workers and threatens the sustainability of the apprenticeship budget.
Since the levy was introduced, spending on level 6 and 7 apprenticeships has risen from £44 million in 2017/18 to £506 million in 2021/22 – hitting £1.325 billion in total over that period, according to new government figures released in a parliamentary written answer by skills minister Robert Halfon.
