Financing training in Europe
The purpose of this study was to provide a comprehensive overview of financing instruments (training funds (national and sectoral), tax incentives (for individuals and companies), vouchers/individual learning accounts, grants (for companies where co-financing is required), loans, saving schemes, training leave, payback clauses (for individuals and future employers), human capital contracts) used by 27 EU Member States to share the costs of training. The study took stock of Cedefop's previous research in the field, up-dated this information, complemented it with data from other sources, and brought together available evidence on effectiveness and efficiency of different financial instruments. The study had a macro dimension - a comparative analysis of cost-sharing systems across the EU Member States, and a micro dimension - a comparative analysis of similar types of individual instruments.
In a comparative perspective, selected instruments to finance training in all Member States were reviewed and analysed in greater depth. For each instrument, regulatory and administrative framework, source of funding and the main mechanisms for collection and distribution of funds, main policy objectives(s)/target(s) pursued, eligibility regulation, links between different financial instruments, existence of monitoring and evaluation arrangements, changes (if any) introduced as a result of the financial and economic crisis, and other relevant features were specified. The study analysed the extent to which financial instruments met their objectives, were efficient and promoted equity. It identified factors leading to success and failure of different types of instruments. The final report summarised lessons, identified good practices and provided recommendations on how to improve effectiveness and efficiency of financial instruments.