皇冠体育app

皇冠体育app 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. 皇冠体育app Department for Business, Energy and Industrial Strategy (BEIS) will have a key role to play delivering these pledges.

Continuing the UK鈥檚 recovery from coronavirus

皇冠体育app 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 拢280 billion. 皇冠体育app Spending Review has set out the government鈥檚 intention to maintain this support to protect jobs, businesses and livelihoods, while stimulating the UK鈥檚 economic recovery.

In the Spending Review the government has committed to invest:

• an additional 拢733 million in the government鈥檚 Vaccines Taskforce for the purchase of Covid-19 vaccines; 拢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 拢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
• 拢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鈥檚 reputation as a science superpower

皇冠体育app 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. 皇冠体育app UK remains a science superpower, with a world leading research and development environment. To grow this reputation, the government has committed to investing 拢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 拢490 million in core Innovate UK programmes and infrastructure to support ground-breaking technologies and businesses;
• 拢79 million in innovation loans to help cutting-edge UK businesses to access capital;
• 拢200 million for the Net Zero Innovation Portfolio to develop new decarbonisation solutions and accelerate near-to-market low-carbon energy innovations; and
• 拢450 million to support strategic government priorities, build new science capability and support the whole research and innovation ecosystem. This includes 拢350m for BEIS, including the first 拢50 million of an 拢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

皇冠体育app UK is a world leader in the fight against climate change, cutting emissions by 43% since 1990/ 皇冠体育app Prime Minister recently outlined a 10 point plan which will mobilise 拢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 拢125 million in 2020/21 in nuclear technologies, as part of up to 拢525 million set out in the PM鈥檚 10 point plan, supporting the development of large-scale nuclear, and including up to 拢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;
• 拢240 million to create a Net Zero Hydrogen Production fund to support the production of low-carbon hydrogen;
• 拢160 million upgrading ports and infrastructure to support the expansion of offshore wind;
• over 拢1 billion next year to decarbonise homes and buildings, extending the package for low carbon heat and energy efficiency announced earlier in the year;
• 拢122 million to support the creation of clean heat networks; and
• 拢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鈥檚 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 拢8.91, the equivalent of 拢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鈥檚 youngest workers will also benefit from a 3.6% increase to the National Minimum Wage for apprentices.

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

Securing the future of the Post Office network

A total of 拢227m of funding has been provided to extend the network subsidy by 拢50 million and provide the Post Office with 拢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 鈥� now and in the future.