The cuts are set to include reductions in apprenticeships, upskilling and reskilling programmes, and a pausing of the development of the Careers Portal.
The South Belfast MLA stated: “Skills are the lifeblood of our economy and underline all economic growth, but a growing skills base is consistently undervalued. Sweeping cuts to major skills initiatives at this time will have a devastating blow to our economy and cannot be ignored.
“It’s alarming that while economic inactivity levels are amongst the highest on these islands and the level of young people not in education, employment or training is increasing, businesses are consistently reporting a major skills gap in our economy.
“These issues represent a major drag on our economic growth and the potential of our young people, and highlight the necessity to invest in skills development programmes. At a time when investing in skills is more important than ever, cuts to these programmes are counterproductive and will only lead to more unrealised potential, both in economic and human terms.
“Investment in skills development is an economic imperative that cannot be ignored and if the erosion of skills funding is not rectified urgently it will have major consequence on our economy and public services."
The South Belfast MLA stated: “Skills are the lifeblood of our economy and underline all economic growth, but a growing skills base is consistently undervalued. Sweeping cuts to major skills initiatives at this time will have a devastating blow to our economy and cannot be ignored.
“It’s alarming that while economic inactivity levels are amongst the highest on these islands and the level of young people not in education, employment or training is increasing, businesses are consistently reporting a major skills gap in our economy.
“These issues represent a major drag on our economic growth and the potential of our young people, and highlight the necessity to invest in skills development programmes. At a time when investing in skills is more important than ever, cuts to these programmes are counterproductive and will only lead to more unrealised potential, both in economic and human terms.
“Investment in skills development is an economic imperative that cannot be ignored and if the erosion of skills funding is not rectified urgently it will have major consequence on our economy and public services."