Minister Seán Canney Welcomes Major Boost for Skills, Small Business and Jobseekers Through National Training Fund Reform
Seán Canney TD, Minister for International and Road Transport, Logistics, Rails and Ports and Leader of the Independent Team of Ministers, has welcomed the Government’s approval to draft legislation that will unlock €1.485 billion in funding from the National Training Fund (NTF) over the next six years, delivering a transformative impact for employees, jobseekers and small businesses across the country.
The proposed amendment to the National Training Fund Act 2000 will enable wider use of the NTF surplus — currently estimated at €1.772 billion — to include capital investment in training infrastructure and expanded core funding for higher and further education. Minister Canney has strongly endorsed the move, citing the clear benefits for SMEs, rural communities, and sectors facing urgent skills shortages.
“This is a game-changer for small businesses and workers alike,” Minister Canney said. “By unlocking this substantial surplus, we are investing directly in the upskilling of our workforce, supporting apprenticeships, and future-proofing our economy in the face of global change.”
The funding package includes:
€650 million to increase core funding for higher education;
€150 million for new training facilities in high-demand areas such as medicine, nursing, and veterinary sciences;
€150 million to modernise and decarbonise educational infrastructure;
€150 million for the Further Education and Training sector;
€150 million to enhance research capacity and PhD supports;
€235 million in current funding to support skills and apprenticeships.
The amendment ensures that NTF funds can be used more flexibly and effectively, targeting current and emerging skills needs across all regions — including in sectors vital to Ireland’s transport and logistics infrastructure. The initiative also aligns with efforts to reduce poverty and improve access to sustainable employment by providing lifelong learning and training opportunities nationwide.
“Small and medium-sized businesses will benefit from a more skilled workforce, while employees and jobseekers will gain easier access to education and training that directly meets labour market demands,” added Minister Canney. “This is a positive and progressive step for regional development, for competitiveness, and for Ireland’s economic resilience.”
The Department of Further and Higher Education, Research, Innovation and Science will lead the legislative process and continue extensive consultations with industry, educational institutions, and the National Skills Council to ensure the reforms meet real-world needs.
Minister Canney concluded: “Ireland’s future depends on a workforce that is trained, adaptable, and ready for the challenges ahead. This investment ensures that small businesses, rural communities and emerging sectors are not left behind.”