
Apprenticeship Voucher
It has been impossible to ignore the affection this government has for apprenticeships, set in concrete by its decision to give apprentices a 57p wage boost to £3.30 an hour. Contained within the full Budget document was detail on its new Apprenticeship Voucher, which will put employers in control of the government funding for the training apprentices need. Set to be developed and tested with employers and providers ahead of a 2017 implementation date, the government stated the system will provide power for businesses to have “an even greater say” in the quality, value for money and relevance of training providing to apprentices. As confirmed at Autumn Statement 2013, the government and employers will make cash contributions towards the cost of training for apprentices.Smart cities
Heralded as developments which could prove “transformative” as well as providing “signifiant opportunities” for supporting jobs and growth, the Budget contained details on how the UK will look to take advantage of technology to empower local areas. The government will be supporting a competition to fund a “Smart Cities demonstrator” as part of its Internet of Things (IoT) programme. This will trail and showcase new technologies. The entire demonstrator initiative will get £40m, spread across programmes, business incubator space and a research hub to develop applications for IoT technologies in healthcare and social care as well as smart cities. Have a look at our other Budget 2015 content:- A 500-word summary for entrepreneurs and business owners
- UK Business leaders divided on contents of George Osborne’s speech
- Full transcript of George Osborne’s speech
- To see a continued recovery, the UK needs a turnaround in productivity
Fintech development
R&D tax credits
Energy Research Accelerator
The government will invest an initial £60m in a proposal by six universities across the Midlands for a new Energy Research Accelerator, a “major project to develop the energy technologies of the future”. As part of the government’s creation of science catapult centres across the country, it is supporting a new Energy Systems Catapult in Birmingham, which will bring together researchers and industry in order to develop new technologies and products. Have a look at our big Budget 2015 stories:- Annual Investment Allowance will not go back to £25,000, says George Osborne
- To see a continued recovery, the UK needs a turnaround in productivity
- Government doubles UKTI support for firms exporting to China
- George Osborne scraps tax return for individuals and businesses
Share this story