The Chancellor has announced a package to help people into work,
education and training, while building the skilled workforce
Britain needs for the future.
The package will see the National Wealth Fund used to create and
support 130,000 jobs across the UK, expanding local
apprenticeship services to connect more young people with
employers, and restoring the Union Learning Fund with £15 million
a year to help people build new skills.
National Wealth Fund
The Chancellor has announced that Government will use the
National Wealth Fund's current capitalisation to create and
support a further 130,000 jobs across the UK by 2030. The
National Wealth Fund will support good jobs across sectors
including AI and technology, defence and clean
energy.
Rolls Royce funding expansion
In a boost for the UK's advanced manufacturing sector, the
Chancellor announced today that Rolls Royce will bring a landmark
£300 million investment into its manufacturing and engineering
facilities across the UK.
The significant investment reinforces the company's commitment to
the UK's advanced manufacturing ecosystem, with funding going to
factories across the UK. In Derby the company is investing more
than £140 million on new engineering and manufacturing services
facilities to enable future growth, supporting more than 10,000
employees.
In Bristol, the home of UK military power and propulsion,
Rolls-Royce is investing over £90 million on a major facility
upgrade programme - supporting the more than 3,500
employees based at the site, including highly skilled engineers.
An investment of £43 million at Inchinnan, Glasgow, is
introducing machinery that will enable new engine components to
be manufactured while in Rotherham, Rolls-Royce is investing £19
million at its Advanced Blade Casting Facility, doubling its
output of advanced turbine blades a critical component in jet
engines by 2030.
Expanding local apprenticeships services
Local leaders know their areas best and are ideally placed to
match young people with small employers to create the
apprenticeships their communities need.
Budget 2025 announced government funding to pilot apprenticeship
brokerage in some Mayoral Strategic Authorities. Today the
Chancellor's announcement goes further, expanding funding to all
14 existing Mayoral Strategic Authorities with directly elected
mayors, so they can help provide local apprenticeship services
across England from Spring 2027.
As part of the government's commitment to expand apprenticeship
opportunities for young people, the £100 million of additional
funding across 2 years doubles the number of areas matching young
people with local businesses. Led by mayors, and driven by the
skills and needs of local labour markets, this will deliver
thousands more youth apprenticeships, supporting more young
people to kickstart their careers.
This builds on government support for the rest of the country
including full funding of training and assessment costs for all
eligible apprentices aged 16 to 24 and the £3,000 Youth Jobs
Grant, while the government's ambition is to put strategic
authorities in place everywhere by the end of 2028.
Union Learning Fund
The Chancellor also confirmed £15 million a year of additional
funding to restore the Union Learning Fund in England, helping
working people gain new skills, progress at work and adapt as
technology, including AI, changes the workplace.
The fund previously generated 180,000 learning opportunities
every year and will draw on trade unions' trusted workplace
relationships to reach those people and help them access training
through their employers and existing skills programmes.
This fund will help British workers harness AI rather than be
outrun by it.
Employees will not need to be union members to benefit, with
potential support ranging from essential English, maths and
digital skills, to training for jobs in growing industries such
as advanced manufacturing.
The Budget will set out details how apprenticeship brokerage
expansion and Union Learning Fund are fully funded by savings
found by the Department for Work & Pensions.
