Boosting training could add £200 million to UK economy, study says

Increasing investment in training and education may boost the UK economy by over £200 million, a study from a North East training firm suggests.

The Value of Training report, commissioned by Durham-based national training company Learning Curve Group, said training in areas such as digital skills, leadership and management, and STEM could boost the country’s economic growth by up to 1.4% by easing labour shortages.

The report also says there would also be a boost to public wellbeing by getting people into better jobs, while business investment is likely to increase if companies have more skilled workforces.

As well as boosting individual pay and increasing business confidence, the Learning Curve study said that increased skill levels would improve productivity, one of the key challenges that has been facing the UK economy for a number of years.

Learning Curve CEO, Brenda McLeish, said: “We are in the midst of a recruitment, skills and cost of living crisis and skills training can often be an area that has budgets reduced during these times. I think this report illustrates that if anything, it is imperative to ensure there is a strong commitment to skills and training if we are to flourish as a nation.”

Read more and access the full report.

Boosting training could add £200 million to UK economy, study says

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