2021 Manifesto FINAL DRAFT - Flipbook - Page 28
Taking skills seriously
There’s much evidence that
investing in skills gives a better
return than investing in shiny new
infrastructure. Much has already
been said about the skills deficit
within the West Midlands and the
impact that Brexit will have on
this, but it is actually a complex
issue. Simply getting more people
a qualification won’t necessarily
lead to an increase in productivity.
Under-use of existing skills, our
low-skill, low-pay economy and a
lack of investment in general are
likely the major drivers behind the
skill gap.
We cannot, therefore, view skills
independently from the wider
economic picture. For example, if
we continue to pursue economic
plans based heavily on retail, we
will continue to see creation of
low-skill, low-pay jobs and the
productivity gap will likely not
reduce – no matter how well
trained those doing the jobs are.
I have outlined in this section how
we can create a better economy.
Part of this will be to better utilise
the skills people already have,
ensuring that we teach skills that
match actual jobs that are
available, in the areas where we
want to see growth, or where
there are skills gaps. It will also
include working in partnership
with business and the public
sector to encourage a huge
increase in the number and
quality of apprenticeships on
offer.
In addition, we need to help
people to progress once they are
in work by helping them to
continue to develop their skills.
This includes helping those who
run SMEs to become more
productive and to provide more
training to their staff.
Economy
We need to support and publicise
the existing Community
Development Financial Institutions
(CDFIs) in the West Midlands
while working to encourage more
community banks tasked with
providing loans and finance to
small businesses, encouraging
entrepreneurs from traditionally
under-represented backgrounds.