Dail Éireann · 2023-06-01
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The National Training Fund is a dedicated fund to upskill people in employment and provide training and reskilling opportunities for those who are unemployed. More than €3 million is allocated to the expert group on future skills needs and the labour market research unit in SOLAS and for the operation of the nine regional skills forums.
The funding supports significant research and data-gathering on future skills and workforce requirements. This analysis is of considerable value to educators, guidance professionals, researchers, industry and learners throughout the third level education system to ensure a better alignment of teaching, learning and research with workforce developments and potential career paths as well as identifying funding and research priorities.
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I understand there is a lot of funding at the moment in the National Training Fund, at up to €1 billion. Will the Minister outline what plans he has for this fund with respect to the question I submitted?
The National Training Fund is a dedicated fund to upskill people in employment and provide training and reskilling opportunities for those who are unemployed. It also funds research on existing and likely future skills requirements of the economy. In 2023, more than €9 million is being invested from the fund in these schemes for these purposes. More than €3 million is allocated to the expert group on future skills needs and the labour market research unit in SOLAS and for the operation of the nine regional skills forums.
The funding supports significant research and data-gathering on future skills and workforce requirements. This analysis is of considerable value to educators, guidance professionals, researchers, industry and learners throughout the third level education system to ensure a better alignment of teaching, learning and research with workforce developments and potential career paths as well as identifying funding and research priorities.
As the Deputy will be aware, I recently launched the OECD's skills strategy review, which outlined a number of recommendations to improve career information and guidance for individuals on learning and career pathways. Progress in this area will be a priority for the implementation of the OECD review.
Turning to the NTF and how we can utilise this huge resource for our country in the context of the upskilling and reskilling agenda, my Department and the Departments of Enterprise, Trade and Employment and Public Expenditure, National Development Plan Delivery and Reform are actively engaging on this with a view to having proposals in advance of the Estimates discussions.
Will the Minister outline the current size of the fund? Is he aware of the proposal of IBEC and Science Foundation Ireland to use the fund to provide adequate funding to develop research, talent and skills and the need for further investment and to encourage increased creativity and innovation?
The NTF surplus stood at €1.37 billion at the end of 2022 and is forecast to increase to €1.5 billion by the end of 2023. I am very much aware of those proposals and am engaging with those organisations and others to try to come up with proposals in advance of the discussions for the Estimates.