The proposed move is part of a spate of initiatives to offset the anticipated wave of redundancies as the UK economy continues to be hit hard by the economic downturn.

Other plans unveiled by the Prime Minister include the creation of "green" industries to generate jobs and an increase in spending on the transport system.

Richard Bloxam, head of marketing and communications at Proskills, said: "There is a danger that the industry will shed so many skills during the recession that it won't have the skills and experience it needs to grow again. 

"Even though most of the cost of the apprenticeship training is free, the employer must employ the apprentice and pay a training wage.

"Funding towards this training wage would be a welcome incentive for employers to take on apprentices again after a decline in numbers in recent years."

A spokesperson for the Department for Innovation, Universities and Skills said the initiatives are still in a planning stage.