Co-op pledges £70m to create 7,000 apprenticeships by 2030

Co-op has committed to raising a total of £70m through its Levy Share service to create 7,000 apprenticeships by 2030.

The scheme, which enables levy-paying employers to transfer unused apprenticeship levy funds to businesses, charities, and community organisations, aims to “break down barriers” to work and progression, Co-op said.

Since its launch in 2017, the Co-op Levy Share has raised £40m so far, helping to make “a real difference” for underrepresented groups.

The new £70m target comes as apprenticeship starts have dropped 31% since the government introduced the apprentice levy in 2017, according to the Department for Education, leaving nearly one million young people out of education, work, or training [Office for National Statistics].

Co-op said these findings made its commitment “more vital than ever” and supported the government’s recent call for more young people to access “gold standard” apprenticeships.

While the definition of “gold standard” was still being clarified, Co-op Levy Share had the potential to support this ambition by unlocking opportunities for high-quality apprenticeships – including level 4 and above – across the UK, it said.

“We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity,” said Co-op chief people and inclusion officer Claire Costello.

“Four years on, alongside our contributing partners, we’ve already channelled £40m into thousands of life-changing apprenticeships, and today we’re going further, committing £70m 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 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.” 

Social Mobility Foundation CEO Sarah Atkinson said: “Young people from low-income backgrounds – like the ones our charity supports – are crying out for more apprenticeship opportunities. And no wonder: the chance to earn while you learn can be life-changing for people who otherwise can’t afford to pay for training or university.” 

The Apprenticeship Levy requires large employers to contribute to a fund supporting apprenticeship training. Unspent funds expire after 24 months and are returned to HM Treasury. Co-op Levy Share enables employers to transfer up to 50% of their annual levy to other organisations, covering training and assessment costs for apprenticeships and supporting growth across sectors. 

Co-op is calling on more businesses to join the Levy Share initiative to help create a “stronger, fairer economy by supporting apprenticeships in sectors and communities that need them most”.