Disinterest in trade jobs could see UK miss out on £98bn of growth, B&Q boss warns
The boss of B&Q owner, Kingfisher, has urged governments and businesses to encourage more young people to consider taking jobs in a trade, following reports that the UK could lose out on £98bn of growth by 2030 due to the lack of plumbers and electricians.
Thierry Garnier, who fronts the FTSE 100 business said that it was “vital” that business and government work together to encourage and support more young people to consider working in a trade.
“It’s vital that business and government work together… trade careers are high-quality, skilled jobs, with significant earnings potential,” he said.
His plea comes as a new study by the retail giant, which also owns Screwfix, found that the UK is currently facing a shortage of 166,000 tradespeople, with vacancy levels for many trades close to record highs.
The West and East Midlands and London are the regions predicted to be most impacted by tradesperson shortages, with regional GDP growth set to be reduced by £14.5bn, £12.1bn and £11.7bn respectively in 2030.
A separate survey showed that one in five people have had to cancel or postpone a project in the last five years due to not being able to find a suitable tradesperson.
Garnier is now proposing that the government introduce a grant similar to the £3,000 apprenticeship incentive that was in place during the pandemic, with a £1,000 apprenticeship completion bonus, to support SMEs in taking on apprentices.
He also proposed there be stronger career advice in schools to encourage young people to take up a trade career.
“Tradespeople play a vital role in our economy and society – from improving and maintaining the nation’s homes to installing energy efficiency measures that cut bills and emissions,” he added.
City A.M contacted the Department for Business and Trade for comment.