Chancellor unveils latest Budget


""Announcements on apprenticeships and infrastructure have been made by Chancellor George Osborne as part of his latest Budget.

It was revealed that from April 2017, employers in England will receive a 10% top-up to their apprenticeship levy contributions.

Estimates have suggested that a firm with a payroll of £5 million paying a levy of £10,000 will receive a £1,000 top-up to spend through their digital voucher.

Elsewhere, previously announced commitments to infrastructure were given the green light, with key projects up and down the country set to benefit.

These include the HS3 high-speed rail link between Manchester and Leeds, which will receive £300m of funding.

Emphasising his commitment to creating a Northern Powerhouse, the Chancellor also pledged to find £161m to pay for the M62 to be widened.

In the south, Crossrail 2 was given the go-ahead, with £80m set aside for the project, which will run beneath the streets of London to connect Hertfordshire and Surrey.

A further £700m has been given over to improving the country’s flood defences, helping regions such as Cumbria and Yorkshire, which were battered by recent storms.

In Wales, the Government has agreed a £1.2 billion Cardiff Capital Region deal to boost transport infrastructure and provide a spur to economic growth. 

Similar arrangements could now be set up to benefit Edinburgh and South East Scotland, it has been announced.

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BDC 305 Jun 2023