A loan support programme targeting apprentices has been a hit in the Kennedy electorate, with a third of the total number of recipients accessing Trade Support Loans in Queensland in the past year, being from Kennedy.
Northern based LNP Senator Ian Macdonald said the success of the Trade Support Loans in the electorate was indicative of a growing confidence in industry and an increasing skills base across the north.
“As we work towards unlocking the potential of Northern Australia, it is vital that our efforts are supported by a skilled workforce, and it’s encouraging to see such a strong contingent of apprentices engaging in this industry loan tool,” Senator Macdonald said.
LNP Candidate for Kennedy Jonathan Pavetto said he was delighted that the Turnbull Government had been able to help so many young people in Kennedy start their careers.
“I am passionate about tackling youth unemployment in North Queensland and these Trade Support Loans are an effective tool to fix the problem.”
“The Trade Support Loans, an initiative of the Turnbull Government, provide financial assistance of up to $20,000 to apprentices during their training. The loans can be used for living expenses, tools and training,” Mr Pavetto said.
Senator Macdonald said in the past year, 323 apprentices in Kennedy accessed these loans, with 10, 659 loans issued in the same period across the State. Nationally, Queenslanders came a close second to Victoria, where there were 11,341 loans issued.
“Apprenticeships are vital to boosting the nation’s skilled workforce, and any support we can offer apprentices while they are completing their training is a valuable investment in their future,” Senator Macdonald said.
As an additional incentive, the Trade Support Loans programme rewards those who successfully complete their apprenticeship by giving them a 20 per cent discount on their loan amount.
For further information about the Trade Support Loans, visit http://www.australianapprenticeships.gov.au/content/trade-support-loans.