We welcome today’s new report from CBI: Learning for life: funding world class adult education. This report, based on analysis by McKinsey & Company, shows that nine in ten employees will need to reskill by 2030 at an additional cost of £13 billion a year. New technologies and the changing nature of our economy are transforming the skills needed for many jobs. As Covid-10 accelerates changes to the world of work, it is important that the UK establishes a lifelong learning culture – now more so than ever. Adult learning institutions like City Lit will be essential for the recovery of London and communities across the country. The recently announced Lifetime Skills Guarantee is an important step in the right direction, but it is only a start. Therefore the need for continued investment during these challenging times to support recovery is essential.
The report also features the following recommendations for policymakers:
- Evolve the Apprenticeship Levy into a flexible Skills and Training Levy to unlock business investment in high-quality accredited training.
- Introduce training tax credits for SMEs to overcome longstanding barriers of capacity and resource in smaller businesses.
- Launch Career Development Accounts to support unemployed people and individuals with the biggest retraining needs.
- Transform Job Centres into one-stop ‘Jobs and Skills Hubs’ to support workers looking to retrain.
- Extend the lifelong learning loan allowance to adults of all ages and use it to drive increased availability of bite-size, flexible and online learning.
The report also sheds light on how changes in the economy will change the skills sought by employers, including:
- 21 million people will need basic digital skills
- 16 million will need critical thinking and information processing skills
- 15 million will need skills in leadership and management
- 14 million will need interpersonal and advanced communication skills; and
- 9 million will need to build on their STEM knowledge
