Yahoo Finance $1,000 cash boost coming for Aussie apprentices to finish their training
The funding boost aims to get homes in Western Australia built faster.
The Western Australian government has announced a new initiative to encourage apprentices to continue and finish their training. A veteran builder told Yahoo Finance Australia's construction industry is "hanging on by its fingernails" due to red tape, the cost of building supplies, and the lack of apprentices replacing the tradies who retire.
This perfect storm of issues has seen loads of construction companies collapse in the last few months. To combat this, the WA government will give apprentices $1,000 after they complete certain training milestones.
It's hoped incentivising Aussies to finish their training will facilitate a steady flow of workers into the industry and get homes built faster.
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WA Premier Roger Cook said his government is "doing everything we can to boost supply and get more people into homes".
"It's critical that we support local people into good jobs in the building and construction industry, and we have been working with business and training providers on the best ways to further grow this key workforce," he said.
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"Our 2024-25 State Budget will include generous new payments for construction apprentices at the beginning, middle and end of their training, providing an additional incentive for them to complete their qualifications as well as cost-of-living support as they start their careers.
"We're also providing bonuses to give apprentices the tools they need when they need them most, and support for employers to help them take on more building and construction apprentices."
How does the Apprenticeship Support Package work?
The scheme will kick in on January 1 next year and apprentices can apply for the cash boost once they reach training milestones.
They will have up to 12 months to claim each milestone.
Eligible employers are also incentivised to take on three to four-year apprentices as they will get a base grant of $15,000, which is up from $12,000. Employers of 18-24 month apprentices will receive a base grant of $12,500, up from $10,000.
They'll receive a bonus rate for employing a female or mature-aged apprentice or trainee from 20 per cent to 40 per cent.
The WA government is also investing $16 million into the Apprentice Tool Allowance program, which gives eligible apprentices a $1,000 rebate at both the commencement and completion of their training for the purchase of tools or safety equipment.
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