CITB unveils three-year training grant bonus

Firms will receive a 12% bonus on training grants awarded by the CITB from August 1^st, Building can reveal.

Last month the CITB unveiled an extra £25m for training programmes after a drop in demand for grants and a series of cost-cutting measures.

Today the CITB will announce it is using the extra funds to pay for a three-year supplementary grant payment that will run until 2014.

The extra support comes a year after the CITB increased grant payments permanently by 10%.

The bonus is designed to boost industry skills in readiness for the sector’s upturn, the CITB said.

The temporary rate will apply to all grants, including the apprenticeship package and other specialist training support.

Mark Farrar, Chief Executive of CITB-ConstructionSkills, said: “It is essential that employers maintain investment in the current and future workforce, and by giving this additional boost to supplementary grants, we can add more value to levy payers, helping firms receive even more value on their investment as they prepare for economic recovery.

“The last two years have been extremely challenging for industry and our latest research shows that more than a quarter of construction businesses in the UK reduced their training activity in 2010, with 18% planning to scale back training further this year.

“However, it’s important that they train now to ensure that their workers have the skills to help boost productivity and pitch for emerging new contracts, such as through the Government’s Green Deal.”