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Lloyds Banking Group invests £100m to boost youth skills

The group aims to support more than 600,000 young people through skills, careers, employment and financial education programmes by 2030.

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Lloyds Banking Group has confirmed a £100m investment to build future skills, including artificial intelligence (AI) capabilities. 

The group aims to support more than 600,000 young people through skills, careers, employment and financial education programmes by 2030. 

The commitment involves apprenticeships, graduate programmes, work experience, placements, careers education and employability support. 

Alongside the investment, Lloyds Banking Group will expand opportunities for young people to gain workplace experience and develop practical skills. 

This includes branch-based work placements for young people aged 18-24 who are not currently in education, employment or training. 

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The group also plans to host youth hubs in its offices, providing work-readiness training, careers support, financial literacy and skills development. 

Lloyds Banking Group will work with the Department for Work and Pensions (DWP) to deliver these programmes.

Part of the £100m investment will support 67,000 employees to develop future-ready capabilities through programmes including the group’s AI academy and leading with AI initiative. 

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The investment will also support expanded reskilling opportunities, helping workers build new capabilities and transition into future-focused roles as technology continues to reshape the workplace.

Sharon Doherty, chief people and places officer at Lloyds Banking Group, said: “There is no single route into a successful career. 

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“Whether someone chooses further education, an apprenticeship or goes straight into work, access to opportunities, skills and experience can make all the difference. 

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“Businesses have an important role to play in helping people develop the skills and confidence they need to succeed.”

Doherty added: “Through apprenticeships, work experience, careers support and new initiatives such as youth hubs, we want to help create more pathways into work for young people across the UK. 

“Our £100 million investment will help our colleagues build the capabilities needed to support customers and succeed in a changing economy.”

Work and Pensions Secretary Pat McFadden, said: “Every young person deserves the chance to succeed, and that means the Government and businesses working together to give them the skills to seize the opportunities of tomorrow. 

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“This £100 million investment and additional commitment to support more than 600,000 young people is a fantastic example of businesses stepping up alongside our own £2.5 billion investment in youth employment support, so that young people right across the UK can build the confidence, skills and experience they need to get on in life and drive growth in every part of the country.”

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