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    Home»Business»Financial Services»Govt to invest in worker training
    Financial Services

    Govt to invest in worker training

    AngelineBy Angeline2 Mins Read
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    Many people around the UK and in other countries make use of work-related training. Whether they opt for an executive PA course, sage course or anything else depends on the type of role they are in or the roles they are seeking.In a new move, the government has revealed it is to encourage training among companies in a bid to boost the business sector.

    Secretary of state for business Vince Cable and minister for skills John Hayes launched a new fund to help firms develop the skills they require to drive growth.Worth £50 million a year, the Growth and Innovation Fund (GIF) is to deliver assistance to employer groups to overcome barriers to growth and it is hoped it will boost innovation and productivity.

    Commenting on the idea, Mr Cable said: “This government understands that to rebalance and grow our economy, we need to tackle the skills shortages that hold companies back. Through this fund, we will support employers that take collective action to overcome these blockages to expansion.”Meanwhile, Mr Hayes suggested that by providing organisations with the power to shape the training support offered, he hopes that public money will directly support jobs and growth.

    He added: “I look forward to working with industries of all kinds to deliver help where it is most needed to boost performance.”Also remarking on the development, Charlie Mayfield, chairman of the UK Commission for Employment and Skills, said the fund will help employers take control of their own destinies.

    As well as companies, many individuals have been investing in training in a bid to enhance their career prospects. At present, the competitive nature of the jobs market means they are going up against many individuals for the available positions. Some such people choose to sign up to an executive PA course or a sage course.

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