LONDON: The Chancellor of the UK from Fechequer Rishi Sunak on Sunday launched a series of speeches promised ahead of the autumn budget statement next week, including GBP 5 billion on health and innovation research and GBP 3 billion skills.
The Minister of Finance from India, who has been responsible for the state financial response to the pandemic, reaffirming his promise to do “whatever needed” to help businesses and families work.
Among the promises launched by the Department of Treasury ahead of the budget speech Wednesday, the 1.4 billion GBP has been intended to encourage foreign investment into the British business and attract foreign talents; GBP 700 million will be spent primarily on the new post-brexit border and immigration system, as well as a new maritime patrol fleet; GBP 560 million for adult mathematical coaching to help improve numeration; And the six-month extension to the Covid recovery loan scheme until June 2022.
“I know that the family here at home feels a higher price pin and worry about the coming months,” Sunak wrote in ‘Sun on Sunday’.
“But I want you to know, we will continue to do whatever is needed, we will continue to have your back – as we do during a pandemic.
And while we can’t solve this problem overnight, I’m determined to meet these challenges, head, With the same grit and determination these big nations have shown throughout the pandemic, “he wrote.
In the heart of the plan is what is called “skill revolution” which includes the qualification of level-T skills for 16 to 19 years.
“The GBP 3 billion skill revolution was built on our plan for work and will spread opportunities in the UK by changing post-16 education – giving people the skills they need to get more and continue to live,” Sunak said.
And, around 500,000 people are expected to benefit from new multiple programs, digital training, and flexible courses.
“Better math can mean a better job and a larger payment package.
Multiply will help people develop new skills and create opportunities,” Sunk added.
In addition, the English Covid-19 antivirus treatment trial will receive GBP 33 million, while the GBP 40 million will be spent on research in social care reform, GBP 30 million to invest in research and research training, and GBP 20 million in research in climate change and health.
Autumn budget, which is presented to the House of Commons, is very important in the British financial calendar and will be accompanied by spending reviews to allocate funds to different government departments.
Sunak has described the budget next week as his plan to “invest in public services, invest in growth, and invest in work”.