The economic benefits of vocational education and training in the UK

When skilled jobs go unfilled, the UK's global competitiveness and productivity suffers. The importance of investing in vocational education and training (VET) and ensuring a stable, effective system has never been clearer. This case study explores the current VET system in the UK, including its potential, but also the challenges it faces. This paper considers the economic benefits of vocational education and training in the UK. It argues that the UK still considers university the best route to employment and suggests that this has led to a significant skills mismatch and subsequent skills gaps in important growth industries. The paper also argues that vocational education and training can significantly contribute to a sustainable, growing economy and that increasing VET delivery has the potential to boost the UK's economy through an increase in gross domestic product (GDP) and a decrease in youth unemployment. The paper outlines the barriers to VET, including: a failure to maximise the potential of skilled migrant labour; the complexity of the vocational qualifications system; and a lack of both employer and individual investment in vocational skills. It suggests, too, that the focus on targets risks sacrificing quality for numbers.

Edited excerpts from publication. Show less