Financial support for apprenticeships is being extended to larger companies in a move aimed at creating more training opportunities for young people.

Chief Minister Alfred Cannan MHK announced the change at the Isle of Man Government Conference on Tuesday. He said while more employers than ever are offering apprenticeships, some larger firms had stepped back.

‘We want to change that, and we are today committing to removing the cap on apprenticeships for large employers,’ he said. ‘This will mean that any qualifying business prepared to take on an apprentice will receive support going forward.’

Eligible employers can receive up to £60 a week during the training period as a contribution towards the cost of in-work learning.

Education, Sport and Culture Minister Daphne Caine MHK confirmed the cap on incentive payments is being lifted and support will be backdated to April 2025 for businesses with 10 or more employees.

She said: ‘Apprenticeships are a vital way to build a skilled workforce and support local businesses, which is why DESC continues to fund the full cost of training and assessment for the duration of an approved apprenticeship — typically two to three years. This funding remains available to all employers, regardless of their size.’

Apprenticeships enable people to earn while learning, combining technical knowledge and workplace experience without requiring a full-time college or university course. Training is delivered in the workplace alongside skilled colleagues and through formal instruction.

Government says the change reflects its commitment to ensuring young people have the skills and opportunities they need to succeed in work and lifelong learning, while also supporting businesses to meet their workforce needs.

The scheme is part of wider efforts to strengthen the island’s economy and workforce, announced as part of this week’s government conference.