National Apprenticeship Week belongs to the apprentices and employers who are making a real difference to the country’s skills base. It’s a reminder too of the importance of investing in our future. But for all the ministerial grandstanding, the fact remains that England has – according to the OECD – less than 10 apprentices per 1000 workers compared to Germany, Australia and Switzerland that supports in excess of 40 apprentices per 1000 workers. This has resulted in a manifest skills gap with our international competitors. Indeed, a chasm is now opening up in terms of how these nations are preparing for what the prime minister likes to call the ‘global race’.

With only two years to go to a general election, however, now is the time for Labour to put some detail behind its own industrial and training policies. As the UK teeters on the edge of a triple dip recession, the country is headed for a major productivity collapse. Cameron would argue that Britain has created one million private sector jobs since 2010, but the reality is that many of these jobs and new businesses are not of the high-value-add, wealth-generating variety. If they were then output would be much higher. Closer examination of the figures shows that these jobs are predominately in sectors that always benefit from loose monetary policy: shopping, personal services, mortgage brokers and the like. Despite the weak pound, the ‘rebalancing’ effort from domestic consumption to exports has simply not materialised. That’s because the hard-wired productive base of the economy has gone into free fall. The one thousand apprenticeships announced by Barclays this week is a welcome step in the right direction, whether or not it was squeezed out of them as penance for the LIBOR rate scandal. If Labour is to stand for one nation and something more than predatory capitalism at the next election then a different approach to skills and the economy is needed.

We can’t simply go back to 1997 and repeat the knowledge economy policies of Tony Blair and Gordon Brown. The country needs a new industrial policy that promotes what I call the ‘know-how economy’. For 30 years, policymakers have blindly put their faith in the expansion of higher education as the route to economic growth. Labour inadvertently gave the impression that it was only interested in the 50 per cent studying for a degree – knowledge at the expense of know-how. Looked at from the perspective of the international evidence you discover that there is absolutely no correlation between HE participation rates and growth. Germany sends far fewer people to university, 8 per cent fewer in fact than the UK, but has a thriving and highly productive skills base. Elsewhere, grads in America are increasingly voting with their feet. University enrolment rates have fallen for the first time in a generation. Graduate debt is reported to be above $1tn. Social mobility has stalled on both sides of the Atlantic. This is more than a temporary blip tied in with the Great Recession. Something far more fundamental and potentially transformational is underway. As Albert Einstein once said, ‘the only thing that interferes with my learning is my education.’

Millions of people around the world are taking to self-directed forms of learning. Ironically, American universities like Harvard, MIT and Stanford are at the forefront of this revolution. MOOCs – or massive online open courses are attracting thousands of sign-ups as ‘rock-star’ professors – formerly closeted away on campuses in their ivory towers charging $50,000 a year, are now taking their wisdom to the masses. Professor Michael Sandel’s Socratic ‘justice’ course at Harvard has been subtitled in Chinese and downloaded 20 million times. Thomas Friedman, author of the World is Flat, captures the new zeitgeist: ‘The world only cares, and will only pay for, what you can do with what you know.’ Competency based education is supplanting the ‘time-served’ model.

The brutal reality is that our expensive bricks and mortar three-year degree universities are no longer in vogue. Like the monasteries and medieval guilds that preceded them they will have to adapt or die in the coming generational shift. Of course we need strong universities and Britain is a world leader. Intellectual inquiry for its own sake is a virtue to be protected. But why should society afford these institutions an effective monopoly over state-backed student loans and R&D funding when those resources could be put to wider use? Why not create a genuine level playing field where £9000 a year can be taken as a loan to set up a company; a tax credit to transfer to an employer to take someone on as a higher-level apprentice or as a ‘future bond’ utilised by a redundant worker looking to retrain, and cash in, with a provider of their choice? Surely, that’s the acid test of a one-nation policy. A country where we put know-how at the centre of our economic policies: where society values the skills of all our people, and not just those with a degree.

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Tom Bewick is chair of the International Skills Standards Organisation and is currently writing a book about the know-how economy

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