Read 'Time management tips' feature

ConstructionSkills Levy rates held for another year

4:24pm GMT, Tuesday, 4 December 2007

The ConstructionSkills Levy rate is to stay the same for the sixth year running, providing for further training for new entrants to the industry.

Construction employers are set to get more for their money in 2007 with CITB-ConstructionSkills Levy rates being held for the sixth year running.

Through the collection of an annual Levy from all liable employers by CITB, grants are given to employers who train new entrants. As a general rule it is the smaller firms who train most new entrants. The larger companies can then benefit by hiring these skilled workers later in their career.

Without the grant, the small firms would simply not be able to afford to train any operatives and the industry as a whole would suffer – this system is therefore looked upon by the industry as the best way to support training.

The Levy rate will remain at 0.5% on direct employment and 1.5% on labour-only sub-contractor payments, and the Levy threshold will also go up – meaning that only employers whose wage bill is more than £76,000 will pay the levy – up from last year’s threshold of £73,000.

Last year saw £113 million distributed in training grants to more than 20,000 firms, including almost £27m to registered employers who did not have to pay the Levy.
 
The proposed Levy rates and threshold will be brought before Parliament as part of the Levy Order in early 2008. All CITB-ConstructionSkills registered employers, even if their wage bill is below the threshold, are eligible to claim CITB-ConstructionSkills Grant for training – and this year there is £140 million available.

For more information on ConstructionSkills, visit:www.cskills.org.

Categories:
Construction



Subscribe to ICM News

Add to Google Reader or Homepage

eNewsletter signup

Sign up to our free eNewsletter, and receive the headlines direct to your inbox.

Opinion poll

Should broadband be a legal right for every citizen?

View Results

Loading ... Loading ...
    • No results available
    • No results available
Latest news
National Briefing | WEST: California: Rocket Launches With Secret Payload
The largest rocket ever launched from the West Coast blasted off Thursday with a classified defense ...
Read More
German Ifo survey hits 20-year high
Business sentiment of 7,000 companies confounds forecasts of a flat reading to hit highest level sin ...
Read More
NASA’s Stardust Probe Readies for Date with Comet Tempel 1 (Time.com)
Time.com - Stardust’s Valentine’s Day meeting with comet Tempel 1 will be not only a sci ...
Read More
© 2012 The Institute of Commercial Management (ICM), ICM House, Castleman Way, Ringwood, Hampshire, BH24 3BA, UK