The federal government hopes a new cash payment program will help apprentices finish their qualifications rather than being lured away by high-paid unskilled jobs.

The initiative comes after an increase in young tradies leaving their apprenticeships for higher-paying jobs, crushing efforts to boost the national construction workforce amidst the current skill shortage and housing crisis.

“We need 40 trades to build a home, and we know every single trade is in shortage,” Master Builders Australia chief executive Denita Wawn said.

Last year, 24,335 young Australians completed a construction apprenticeship, but, 30,470 withdrew or abandoned their apprenticeship before finishing.

The government’s new program hopes to curb this trend, offering $10,000 in payments, delivered in $2000 installments on top of wages for apprentices.

Since July, 1291 construction apprentices have been approved for the program, with carpenters, electricians, and plumbers making up most of the approvals, and Victoria leading the way.

“These incentives are just part of the ways in which we’ll encourage more people to start apprenticeships and be supported to finish them,” Minister for Skills and Training, Andrew Giles said.