Gordon Marsden – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gordon Marsden on 2016-02-24.

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 12 February 2016 to Question 25976, whether the proceeds from the £227 million fine imposed on Deutsche Bank will be specifically applied to a new new three-year fund to create 50,000 apprenticeships.

Greg Hands

As we have said previously, this government will be spending twice as much in cash terms on apprenticeships by 2020 compared to 2010. Spending on apprenticeships in England will be £2.5bn in 2019-20. The BIS spending review settlement for apprenticeships reflects the government’s commitment regarding the proceeds of the Libor fine the FCA announced in April 2015. Further announcements that support the government’s commitment to delivering employment opportunities for young people will be announced in due course.