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$1.2bn announced to help businesses employ 100,000 new apprentices

Maja Garaca Djurdjevic
Maja Garaca Djurdjevic
06 October 2020 1 minute readShare
new apprentices

BUDGET 2020: The government will invest an additional $1.2 billion to help Australian businesses employ 100,000 new apprentices or trainees as part of its COVID-19 economic recovery plan.

As of Monday, 5 October, businesses who take on a new Australian apprentice will be eligible for a 50 per cent wage subsidy, regardless of geographic location, occupation, industry or business size, the government has announced. 

The subsidy will be available to employers Australia-wide who engage an Australian apprentice or trainee from 5 October 2020 until the 100,000 cap is reached.

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In announcing the measure, Prime Minister Scott Morrison said that already 760,000 jobs that were either lost or reduced to zero hours as the COVID crisis hit have come back into the economy. 

“During this pandemic, the federal government has been focused on supporting and creating jobs as well as identifying the skills we need in the economic rebuild,” the Prime Minister said in a joint statement with Minister for Employment, Skills, Small and Family Business Michaelia Cash.

 

“We want to continue to recover what has been lost and get young people into work.

“Whether it’s the manufacturing, housing and construction, arts or mining sectors — this new wage subsidy gives businesses certainty to hire and provides a career path to aspiring, young tradies.”

Under the new measure, employers will be eligible for 50 per cent of the wages for a new or recommencing apprentice or trainee for the period up to 30 September 2021, up to $7,000 per quarter.

Ms Cash explained that the measure builds on the existing $2.8 billion Supporting Apprentices and Trainees wage subsidy.

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“The Australian government has already invested significantly to ensure that apprentices are retained where possible and supported to re-engage if they lose their job,” Minister Cash said.

According to the government, through the existing Supporting Apprentices and Trainees measure, as many as 90,000 businesses employing around 180,000 apprentices throughout Australia will continue to be supported.

For more information, click here.

$1.2bn announced to help businesses employ 100,000 new apprentices
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Maja Garaca Djurdjevic
Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of My Business. 

Maja has a decade-long career in journalism across finance, business and politics. Now a well-versed reporter in the SME and accounting arena, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies and enabling citizens to influence decision-making.

You can email Maja on [email protected] 

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