Lloyds Bank has announced a major achievement in its multi-million-pound partnership designed to bolster the UK's manufacturing industry, having successfully trained thousands of new entrants to the sector.
A Strategic Partnership for Skills
Lloyds Bank and the Manufacturing Technology Centre (MTC) have reached a significant milestone in their £15 million strategic partnership. Established to foster skills development and innovation within UK manufacturing, the collaboration has now provided training for more than 5,000 apprentices, graduates, and engineers.
This training is delivered through the MTC's specialised centres located in Coventry, Oxfordshire, and Liverpool, all made possible with crucial sponsorship from Lloyds. The initiative is performing so well that it is on track to exceed its goal of training 6,000 learners by the end of the current funding cycle in 2029.
Bridging the Critical Skills Gap
The core mission of the partnership is to tackle the persistent skills gap in the UK manufacturing sector. It does this by offering a vital platform that connects manufacturers with high-quality training in cutting-edge fields such as electrification, digitalisation, and clean energy systems.
The impact on small and medium-sized enterprises (SMEs) has been substantial. To date, more than 700 SME manufacturers have been referred to the programme, with over 115 of them engaging the MTC for specific projects to advance their businesses.
Leadership Perspectives on the Success
Dave Atkinson, UK Head of Manufacturing at Lloyds Bank, commented on the achievement, stating, "Our long-standing partnership with MTC reflects Lloyds’ commitment to supporting the future of UK manufacturing. Reaching the milestone of 5,000 apprentices, graduates and engineers trained is a testament to the transformative impact of investment in skills, innovation and SME growth."
He added, "By helping manufacturers access apprentice and salary support funding to create high-quality opportunities for young people, we’re not only strengthening individual businesses but also securing the long-term competitiveness of the sector."
Echoing this sentiment, David Grailey, Managing Director at MTC Training, said, "UK manufacturing stands at a pivotal moment as it looks to embrace new technologies, drive productivity and accelerate the transition to net zero. Closing the skills gap by bringing through the next generation of talent is critical."
He confirmed that the partnership with Lloyds has been instrumental, particularly through the bank's Apprentice Support Service, which gives SMEs the means to invest in essential training and build a skilled workforce for the future.
