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Business and employment - Spending Review

  • Published: Wednesday, 20 October 2010

In the Spending Review the government has laid out how it plans to cut the deficit by prioritising growth and creating the conditions for a private sector-led recovery. Read on for details of how the Spending Review will affect UK business and employment

Jobs, training and employment benefits

Alongside cutting the deficit, the government announced a number of specific actions to support employment, including:

  • boosting spending on adult apprenticeships by up to £250 million a year by 2014-15
  • reforms to the welfare system including the Universal Credit, and the new Work Programme to help more people get back to work
  • abolishing the Train to Gain scheme

Business

  • prioritising public investment in infrastructure, research and skills which help enable private sector growth
  • a Regional Growth Fund of £1.4 billion over three years to support enterprise across the UK
  • setting aside £1 billion of funding for the Green Investment Bank with the aim of making Britain a leader of the new green economy and creating jobs
  • protecting the science budget at £4.6 billion

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