Working through new and established apprentice schemes, the initiative aims to create the engineering technicians by giving them structured on-the-job experience built upon a recognised academic qualification. On successful completion of their apprenticeships, and by ensuring the appropriate skills and competencies are reached, each apprentice will be able to attain the globally recognised professional registration designation of Engineering Technician (EngTech).

The initiative has been created by the Institution of Mechanical Engineers, Institution of Civil Engineers, Institution of Engineering and Technology and the Gatsby Foundation in response to the emerging skills gap in the engineering and construction sectors.

The announcement was made alongside a full-size replica of the British Bloodhound Super Sonic Car. The 13m jet-and-rocket propelled car aims to beat the current land speed record of 763mph in 2014, and to be the first land vehicle to exceed 1000mph by 2015.

Mr Cameron said: “British engineering and innovation are a part of our history that we are rightly very proud of and our engineering excellence continues to change the world that we live in for the better. Bloodhound is a fantastic example of what our engineers can achieve.”