The City of London Corporation has called on the UK’s top companies to be more radical in their approach to hiring apprentices.

Mark Boleat, Policy Chairman at the City of London Corporation, said that firms should make use of the Apprenticeships Levy, which comes into force today, and show stronger leadership in recruiting, training and developing young people.

His comments came as the City Corporation today announced its support for the Apprenticeship Levy - which requires employers to invest in apprenticeships.

The City Corporation has said it will employ and sustain additional 100 apprenticeships across its departments with current apprentices already paid the London Living Wage.

 Mark Boleat, Policy Chairman at the City of London Corporation said:

“Companies have a vital role to play in supporting youth employment and they must now walk the talk.

“Apprenticeships are a key way of upskilling our young people, and the levy will offer new opportunities for businesses to create different paths into employment.

“We are now seeing more degree level apprenticeships in roles across banking, insurance and law. Business can use these new apprenticeships to ensure they have the talented staff they need.”

The City Corporation’s report - ‘City’s Business’ - highlights the important role that Square Mile firms can play in reducing youth unemployment in London.

Research* has shown that the majority of employers are committed to the idea of apprenticeships. Over eight out of ten (86%) employers said they planned to continue to offer apprenticeships, a significant increase from 79% in 2014.

The City of London Corporation continues to work closely with employers to improve apprenticeship uptake in the financial services industry and provide a clear career pathway, with opportunities for progression, for candidates from all walks of life.

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*statistics taken from the Evaluation Employer Survey.

Interview opportunities available on request .

For more information please contact Stephanie Basten, stephanie.basten@cityoflondon.gov.uk

D: 020 7332 1528 M: 077 2563 6917