Food retailer Co-op has committed to £70m to create 7,000 apprenticeships by 2030 through its Levy Share service.
Co-op said it plans to create 7,000 matched apprenticeships in the next five years with a £70 million commitment through its Levy Share service to boost skills.
The retailer said that the commitment comes as apprenticeship starts have dropped 31% since Government introduced the apprentice levy in 2017. Apprenticeships reportedly contribute £25 billion to England’s economy and Co-op said it supports the Government’s ambition for more young people to access “gold standard” apprenticeships.
It has also called on Skills England to start collection Socio-Economic Background (SEB) data for apprenticeships to track who is getting access to opportunities, and who isn’t.
Co-op stated that since launching Levy Share in 2021 is has raised £40 million. The initiative is designed to break down barriers to work and progression and is aimed at helping underrepresented groups by unlocking opportunities for high-quality apprenticeships, including Level 4 and above, across the UK.
“We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity.”
Chief people and inclusion officer at Co-op Claire Costello commented: “We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity. Four years on, alongside our contributing partners, we’ve already channelled £40 million into thousands of lifechanging apprenticeships, and today we’re going further, committing £70 million to create 7,000 apprenticeships by 2030.
“But to truly drive social mobility, we need to measure who benefits. That’s why we’re calling on Skills England to start collecting SocioEconomic Background (SEB) data for apprenticeships. Without it, the system risks leaving some groups behind. Shining a light on access means we can target support where it’s needed most and build a fairer future for all.”
