The Liberal Democrats have set out their vision for a “new era of
learning throughout life” with the creation of an ambitious
Skills Wallet. This will give every adult £10,000 to spend on
education and training throughout their lives.
A Liberal Democrat Government will put £4,000 into people’s
‘Skills Wallet’ at 25, £3,000 at 40 and another £3,000 at 55. The
grants have been designed to encourage saving towards the costs
of education and training throughout adult life.
Individuals, their employers and local government will be able to
make additional payments into the wallets. Access to free careers
guidance will also be provided.
Liberal Democrat Shadow Business, Energy and Industrial Strategy
Secretary, , said:
“Working hard should mean secure work and a decent income, but
for too many people that’s not the case. In an ever changing
workplace people often need to develop new skills, but the cost
of courses and qualifications shuts too many people out.
“Neither the Conservatives and Labour have the answers to these
challenges. They are stuck pursuing 20th-century policies that
simply won’t work in our 21st-century economy. They would take
our country backwards.
“Only the Liberal Democrats have a real plan to build a fairer
economy and a brighter future. We will create a new era of
learning throughout adult life with Skills Wallets for every
individual, providing them with £10,000 to spend on education and
training at various stages of their lives.
“By stopping Brexit and investing in our Skills Wallets, Liberal
Democrats will empower people to develop new skills so that they
can thrive in the technologies and industries that are key to the
UK’s economic future and prosperity.”
ENDS.
Notes to editors:
Individuals can choose how and when to spend this money on a
range of approved education and training courses – only those
from regulated providers and monitored by the Office for
Students.
Industry will be closely involved in the programme: working with
government to identify the need for particular skills and to
evaluate and certify courses.
This policy will come in in 2021-22, to give time to consult on
it and ensure it is implemented effectively. Liberal Democrats
will pay for it by reversing the Conservatives’ unnecessary and
expensive cuts to Corporation Tax and return the rate to 20%,
where it stood in 2016.
Education is fully devolved, so this policy applies to England
only. However, under the Barnett formula extra funding will be
made available to Scotland, Wales and Northern Ireland.
