Number of career development loans to treble

Loans designed to make workers more attractive to employers are set to treble in number, as the Government looks to equip workers for the changing economic landscape.

The measures come as part of the Government's New Opportunities drive to boost skills and make entry to education and work more accessible.

The loans available to people looking to study at higher education institutes, including colleges, universities and private training providers.

However, the full number of 45,000 Professional and Career Development Loans will not be available to potential borrowers until 2010/2011.

Only 15,000 are available for the current financial year.

The Government is also increasing the amount that applicants may obtain from £8,000 to £10,000, while the headline interest rate will be reduced.

The news comes in the wake of Prime Minister Gordon Brown's plans to tackle escalating unemployment, which aim to get 500,000 people back into work over the next two years.

Figures in December put the current number of unemployed at 1.86 million.

Skills Secretary John Denham said: "Often in tougher times, people start to look at the options open to them in developing new skills or training up in something new.

"We know that as well as being more attractive to employers, people with better skills and higher levels of training will be better prepared to take advantage of new opportunities when the upturn comes."

IMAGE Oli Scarff/PA