New figures back case for union learning fund

The TUC says it has drawn the government’s attention to a new document which underlines the value for money offered by the endangered union learning fund (ULF).

A study by the University of Exeter has found that for every £1 spent on union-led training and learning, employers see a return of £5.31 thanks to staff becoming more skilled and productive. Meanwhile, the exchequer sees a return of £3.60 for every £1 invested.

The fund, which is threatened with the axe next spring, received £12 million funding from government in 2019-20, which was used to support 200,000 workers into training and education.

Researchers at the university estimate that the total benefit to the economy generated by this investment will amount to around £1.5 billion. They also argue that the fund can play a key role in supporting the government’s stated aim of “levelling up” skills and productivity across England.

The report’s author, Dr Andrew Dean, commented: "This analysis shows the significant economic and personal impacts the fund makes every year. We are convinced that the ULF can help deliver the enhanced skills base that is needed to successfully deliver the government’s industrial strategy.”

The TUC says it has been “inundated” with support for its #SaveUnionLearning campaign.

https://www.tuc.org.uk/news/every-ps1-spent-union-led-training-economy-gets-nearly-ps13-back-new-report-reveals