Ibec not opposed to levy raising extra €150m for student education

Employers’ group Ibec does not object to increasing a levy on business to train people for work once the extra €150m a year is properly spent.

However, it says a student- loan scheme is the only sustainable way of bridging a higher education shortfall heading for €1bn a year.

The National Training Fund levy raises €340m a year by ringfencing amounts worth 0.7% of employees’ earnings, from PRSI contributions by employers.