General election: Lib Dems plan 'skills wallet' funding - paid for by corporation tax rise
A 拢10,000 fund for every adult in England would allow people to access training after they leave full time education.
Monday 11 November 2019 11:07, UK
The Liberal Democrats are promising a 拢10,000 skills wallet for every adult in England for education and training through their lives.
The funding would come at three stages in life, with adults getting £4,000 at the age of 25, £3,000 at 40 and another £3,000 at 55.
It can only be spent on approved education and training courses, the party has said, and will be paid for by reversing a cut to corporation tax, putting it back at 20%.
Education is a devolved issue so the policy will only be applied in England.
Liberal Democrat business spokesman Sam Gyimah said: "In an ever-changing workplace people often need to develop new skills, but the cost of courses and qualifications shuts too many people out.
"We will create a new era of learning throughout adult life.
"By stopping Brexit and investing in our skills wallets, Liberal Democrats will empower people to develop new skills so that they can thrive in the technologies and industries that are key to the UK's economic future and prosperity."
The Conservatives promised in the summer that they would fund retraining for anyone who risks losing their job to automation.
In February, Jeremy Corbyn announced plans to fund "lifelong learning" with a commission brought together to create the National Education Service.
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On the new Lib Dem policy, a spokesman for the Conservative Party said: "Corporation tax receipts are at an all-time high thanks to the Conservatives' management of the economy since Labour's great recession.
"Hiking taxes on businesses will hit economic growth meaning fewer jobs and less money to invest in public services like schools and hospitals."