The Department for Business, Energy and Industrial Strategy (@BEISGovUK) will have a key role to play delivering the pledges made in the #SpendingReview 

The government has committed billions of pounds through the Spending Review to continue supporting businesses through the pandemic and stimulate the economic recovery, to cement the UK as a science superpower through R&D and innovation investment, and continue progress to kickstart a green industrial revolution and reach net zero carbon emissions by 2050. The Department for Business, Energy and Industrial Strategy (BEIS) will have a key role to play delivering these pledges.

Continuing the UK’s recovery from coronavirus

The UK has acted swiftly to put in place one of the most generous and comprehensive economic responses to coronavirus anywhere in the world, now totalling over £280 billion. The Spending Review has set out the government’s intention to maintain this support to protect jobs, businesses and livelihoods, while stimulating the UK’s economic recovery.

In the Spending Review the government has committed to invest:

  • an additional £733 million in the government’s Vaccines Taskforce for the purchase of Covid-19 vaccines;£128 million to support vaccines research and manufacturing, including funding for the Vaccines Manufacturing Innovation Centre which will be capable of producing enough vaccine doses for the entire UK population in 6 months;
  • more than £500 million to support the continued delivery of vital Covid-19 loans, including paying for the 12 month interest free period on the Bounce Back Loans and Coronavirus Business Interruption Loan Schemes; and
  • £557.5 million for the British Business Bank to continue supporting SMEs across the UK to access the finance they need to grow and stimulate the economic recovery post-Covid.

Growing the UK’s reputation as a science superpower

The UK has a proud record of innovation and discovery. We are the country that gave the world penicillin, the World Wide Web, the theories of gravity and evolution, that unravelled the structure of DNA. That spirit of discovery is still alive in this country today. The UK remains a science superpower, with a world leading research and development environment. To grow this reputation, the government has committed to investing £14.6 billion in research and development in 2021/22.

In the Spending Review the government has committed to invest in 2021/22:

  • at least £490 million in core Innovate UK programmes and infrastructure to support ground-breaking technologies and businesses;
  • £79 million in innovation loans to help cutting-edge UK businesses to access capital;
  • £200 million for the Net Zero Innovation Portfolio to develop new decarbonisation solutions and accelerate near-to-market low-carbon energy innovations; and
  • £450 million to support strategic government priorities, build new science capability and support the whole research and innovation ecosystem. This includes £350m for BEIS, including the first £50 million of an £800 million investment by 2024/25 towards a new agency for high-risk high-payoff research.

Spurring a green industrial revolution and achieving net zero by 2050

The UK is a world leader in the fight against climate change, cutting emissions by 43% since 1990/ The Prime Minister recently outlined a 10 point plan which will mobilise £12 billion to enable the UK to forge ahead with achieving net zero carbon emissions by 2050, while spurring a green industrial revolution that will create and support up to 250,000 jobs.

In the Spending Review the government has committed to invest:

  • at least £125 million in 2020/21 in nuclear technologies, as part of up to £525 million set out in the PM’s 10 point plan, supporting the development of large-scale nuclear, and including up to £385 million in an Advanced Nuclear Fund for advanced nuclear R&D
  • to increase the Carbon Capture and Storage Infrastructure Fund to support the construction of four new Carbon Capture and Storage clusters by 2030;
  • £240 million to create a Net Zero Hydrogen Production fund to support the production of low-carbon hydrogen;
  • £160 million upgrading ports and infrastructure to support the expansion of offshore wind;
  • over £1 billion next year to decarbonise homes and buildings, extending the package for low carbon heat and energy efficiency announced earlier in the year;
  • £122 million to support the creation of clean heat networks; and
  • £500 million over next four years on the development and mass-scale production of electric vehicle batteries.

Supporting our lowest-paid workers

Millions of workers across the country are expected to receive a rise in their pay, following the government’s announcement of an increase in the National Minimum Wage and National Living Wage from April 2021. Rate rises include a 2.2% increase in the National Living Wage to £8.91, the equivalent of £345 extra per year for a full-time worker.

For the first time, the age of eligibility for the National Living Wage will be lowered from 25 to 23. Some of the UK’s youngest workers will also benefit from a 3.6% increase to the National Minimum Wage for apprentices.

The rises mean that the annual earnings of a full-time worker on the NLW will have increased by around £4,030 since its introduction in April 2016.

Securing the future of the Post Office network

A total of £227m of funding has been provided to extend the network subsidy by £50 million and provide the Post Office with £177 million to invest in the future of the network. This will ensure that post offices in every corner of the country, including our vital rural branches, can keep providing essential services for the people that rely on them – now and in the future.

You may also be interested in these articles:

Sponsored Video

Register, Login or Login with your Social Media account:


Advertisers

Upcoming FE Events

Advertiser Skyscrapers

Latest Education News

Further Education News

The FE News Channel gives you the latest education news and updates on emerging education strategies and the #FutureofEducation and the #FutureofWork.

Providing trustworthy and positive Further Education news and views since 2003, we are a digital news channel with a mixture of written word articles, podcasts and videos. Our specialisation is providing you with a mixture of the latest education news, our stance is always positive, sector building and sharing different perspectives and views from thought leaders, to provide you with a think tank of new ideas and solutions to bring the education sector together and come up with new innovative solutions and ideas.

FE News publish exclusive peer to peer thought leadership articles from our feature writers, as well as user generated content across our network of over 3000 Newsrooms, offering multiple sources of the latest education news across the Education and Employability sectors.

FE News also broadcast live events, podcasts with leading experts and thought leaders, webinars, video interviews and Further Education news bulletins so you receive the latest developments in Skills News and across the Apprenticeship, Further Education and Employability sectors.

Every week FE News has over 200 articles and new pieces of content per week. We are a news channel providing the latest Further Education News, giving insight from multiple sources on the latest education policy developments, latest strategies, through to our thought leaders who provide blue sky thinking strategy, best practice and innovation to help look into the future developments for education and the future of work.

In May 2020, FE News had over 120,000 unique visitors according to Google Analytics and over 200 new pieces of news content every week, from thought leadership articles, to the latest education news via written word, podcasts, video to press releases from across the sector.

We thought it would be helpful to explain how we tier our latest education news content and how you can get involved and understand how you can read the latest daily Further Education news and how we structure our FE Week of content:

Main Features

Our main features are exclusive and are thought leadership articles and blue sky thinking with experts writing peer to peer news articles about the future of education and the future of work. The focus is solution led thought leadership, sharing best practice, innovation and emerging strategy. These are often articles about the future of education and the future of work, they often then create future education news articles. We limit our main features to a maximum of 20 per week, as they are often about new concepts and new thought processes. Our main features are also exclusive articles responding to the latest education news, maybe an insight from an expert into a policy announcement or response to an education think tank report or a white paper.

FE Voices

FE Voices was originally set up as a section on FE News to give a voice back to the sector. As we now have over 3,000 newsrooms and contributors, FE Voices are usually thought leadership articles, they don’t necessarily have to be exclusive, but usually are, they are slightly shorter than Main Features. FE Voices can include more mixed media with the Further Education News articles, such as embedded podcasts and videos. Our sector response articles asking for different comments and opinions to education policy announcements or responding to a report of white paper are usually held in the FE Voices section. If we have a live podcast in an evening or a radio show such as SkillsWorldLive radio show, the next morning we place the FE podcast recording in the FE Voices section.

Sector News

In sector news we have a blend of content from Press Releases, education resources, reports, education research, white papers from a range of contributors. We have a lot of positive education news articles from colleges, awarding organisations and Apprenticeship Training Providers, press releases from DfE to Think Tanks giving the overview of a report, through to helpful resources to help you with delivering education strategies to your learners and students.

Podcasts

We have a range of education podcasts on FE News, from hour long full production FE podcasts such as SkillsWorldLive in conjunction with the Federation of Awarding Bodies, to weekly podcasts from experts and thought leaders, providing advice and guidance to leaders. FE News also record podcasts at conferences and events, giving you one on one podcasts with education and skills experts on the latest strategies and developments.

We have over 150 education podcasts on FE News, ranging from EdTech podcasts with experts discussing Education 4.0 and how technology is complimenting and transforming education, to podcasts with experts discussing education research, the future of work, how to develop skills systems for jobs of the future to interviews with the Apprenticeship and Skills Minister.

We record our own exclusive FE News podcasts, work in conjunction with sector partners such as FAB to create weekly podcasts and daily education podcasts, through to working with sector leaders creating exclusive education news podcasts.

Education Video Interviews

FE News have over 700 FE Video interviews and have been recording education video interviews with experts for over 12 years. These are usually vox pop video interviews with experts across education and work, discussing blue sky thinking ideas and views about the future of education and work.

Events

FE News has a free events calendar to check out the latest conferences, webinars and events to keep up to date with the latest education news and strategies.

FE Newsrooms

The FE Newsroom is home to your content if you are a FE News contributor. It also help the audience develop relationship with either you as an individual or your organisation as they can click through and ‘box set’ consume all of your previous thought leadership articles, latest education news press releases, videos and education podcasts.

Do you want to contribute, share your ideas or vision or share a press release?

If you want to write a thought leadership article, share your ideas and vision for the future of education or the future of work, write a press release sharing the latest education news or contribute to a podcast, first of all you need to set up a FE Newsroom login (which is free): once the team have approved your newsroom (all content, newsrooms are all approved by a member of the FE News team- no robots are used in this process!), you can then start adding content (again all articles, videos and podcasts are all approved by the FE News editorial team before they go live on FE News). As all newsrooms and content are approved by the FE News team, there will be a slight delay on the team being able to review and approve content.

 RSS IconRSS Feed Selection Page