Spring Statement summary

Linking to the above point about employment, Monahans was disappointed to hear that young people aged between 16-24 not in education or training - known as “NEETs” - has climbed to around 16%, significantly higher than for older age groups.

For the accountancy profession in particular, apprenticeships are essential for building long-term talent pipelines and developing practical skills alongside professional qualifications. They also provide opportunities for those who may not choose the university route, allowing young people to earn while they learn, gaining valuable experience while studying for recognised qualifications such as AAT or ACCA.

In many cases, today’s senior accountants began their careers as apprentices - and that’s why Monahans is championing reforms to both the apprenticeship levy to give employers more flexibility in how they spend their training funds, and an overhaul the Youth Guarantee work placement scheme - both of which were mentioned in the Spring Statement.

Read our latest Spring Statement digest from Tax Partner Dominic Bourquin here: https://monahans.co.uk/articles/chasing-unicorns-in-the-spring-statement

You can also read the Spring Statement summary here: https://monahans.co.uk/articles/spring-statement-overview