As London continues to evolve as a global hub for finance and professional services, the city’s growth depends not only on infrastructure and investment, but on the strength and adaptability of its talent pipeline. As the Chancellor prepares to deliver the Budget, businesses across London’s finance and professional services sector will be listening closely for signals on how government plans to strengthen the skills and training system. So, how can the Budget best support the development of London’s future workforce, and why is it so important?
Apprenticeships and professional training are central to London’s success story. They give people from all backgrounds the chance to build technical expertise and career-ready skills, while helping employers access the adaptable, motivated talent they need to grow. In a city that powers one in five of the UK’s finance and professional services jobs, a strong and inclusive training system is essential to sustaining productivity, innovation, and global competitiveness.
Yet upcoming funding changes risk narrowing access to advanced professional qualifications. From January 2026, government funding for Level 7 apprenticeships, the route to becoming a Chartered Accountant and other senior finance roles, will be limited to 16 – 21-year-olds and under-25s with an Education, Health and Care Plan. This could exclude graduates and career changers who play a vital role in London’s workforce, particularly in professional business services.
Apprenticeships also boost diversity and social mobility, opening doors for those who might not otherwise enter the profession. They develop communication, collaboration and leadership, the ‘impact skills’ employers value most, while driving productivity and growth. These attributes align directly with the London Growth Plan’s vision of a more resilient, productive and fair economy.
Accountancy training provider First Intuition recognises that technical qualifications alone are often not enough. In response to funding cuts, it is rethinking delivery models to ensure continued access to high-quality training. Its new ‘Exam Plus’ pathway, for example, mirrors the apprenticeship experience, including skills coaching and important soft skills development, without relying on government funding to ensure continued access to progressive talent development.
The Budget offers an opportunity to safeguard vital progression routes in critical sectors such as Professional and Business Services by ensuring that the full amount raised through the new Growth and Skills Levy is allocated to support apprenticeships and ‘apprenticeship units’, so that funding directly benefits learners and employers.
The Government should also extend the Level 7 apprenticeship age limit to 24 so that skilled graduates and career changers are not excluded from the route to chartered status whilst introducing annual inflationary increases to apprenticeship funding bands. This would help training providers maintain quality in the face of rising delivery costs.
Guaranteeing that relevant ‘apprenticeship units’ are available for learners in the Professional and Business Services sector would also mark a positive step towards ensuring London’s finance and accountancy employers can continue to develop the advanced skills the economy depends on.
London’s future prosperity will depend on people as much as effective policy. A Budget that invests in apprenticeships and lifelong learning will help ensure the workforce remain resilient and the city’s greatest strength.