CITB sitting on 100m of funding
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CITB has a glut of funding despite an ongoing skills crisis CITB chiefs said the accumulation of funds was due to contractors being “focussed on areas other than training.”
A CITB spokesperson said: “As a result of the pandemic CITB has seen its reserves grow and this trend continued into 2022/23 where the economic backdrop impacted training uptake.
“Understandably employers have been focused on navigating and then on recovering following the pandemic. It has taken time for the construction sector to recover from the impact of the pandemic and have been battling the challenging economic situation.
“This has meant that many employers have been focussed on areas other than training. We are now seeing the demand for training and claims for grant increase.
“We aim to halve our reserves by the end of the financial year 2026/27 and details of this will be detailed within our business plan and strategy. But our plans include bold investments in our National Construction College estate as well as the full rollout of Employer Networks that will enable employers to have a greater say in the training provided within their regions.”
Critics of the organisation said levy rates should be cut while it is sitting on so much money.
