Written Statements
(5 years, 1 month ago)
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ECOFIN
(5 years, 1 month ago)
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The Chancellor of the Exchequer (Sajid Javid)
An informal meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Helsinki on 13-14 September 2019. The following was discussed:
Working Lunch
Enhanced Action on Climate Change
Ministers discussed how to move climate action forward in the policy areas relevant for finance Ministries.
Ministers were then joined by central bank governors for the first working session.
Working Session I
Resilience of Financial Market Infrastructure
Ministers and central bank governors discussed the resilience of financial market infrastructure and the role of the financial sector in countering hybrid threats.
Capital Markets Union
Ministers and central bank governors then discussed the priorities in the field of the Capital Markets Union for the next institutional cycle.
Working Session II
EU Fiscal Rules
Ministers discussed the functioning of the current set of EU fiscal rules with the aim of providing input into the European Commission’s review of the EU fiscal framework, due in late 2019.
Energy Taxation
Ministers then discussed the present and possible future role of energy taxation in mitigating climate change, based on experiences at national and EU level.
[HCWS1836]
Guarantee of EU-funded Programmes
(5 years, 1 month ago)
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The Chief Secretary to the Treasury (Rishi Sunak)
Today the Treasury is confirming that £4.3 billion of funding will be allocated to Departments and the devolved Administrations for the financial year 2019-20 to deliver the HMG guarantee of EU-funded programmes, with a total of around £16.6 billion expected to be allocated over the lifetime of the guarantee.
Leaving the EU on 31 October with a deal which works for the whole of the UK remains the Government’s top priority.
However, the Government are continuing with no-deal preparations to ensure the country is prepared for every eventuality. It is the responsible thing to do and an important part of this process is giving certainty to UK citizens and organisations.
To provide this certainty, and as previously announced in the written statement of 24 July 2018 (HCWS926), the Government have guaranteed certain EU funding. The guarantee covers the following:
the full multiannual financial framework allocation for structural and investment funds over the 2014-20 funding period, with payments to beneficiaries made up to the end of 2023;
the payment of awards where UK organisations—such as charities, businesses and universities—successfully bid directly to the European Commission on a competitive basis while we remain in the EU (e.g. before exit day), for the lifetime of the project;
the payment of awards where UK organisations successfully bid to the European Commission on a competitive basis to participate as a third country after exit, and until the end of 2020, for the lifetime of the project; and
the current level of agricultural funding under CAP pillar 1 until 31 December 2020.
[HCWS1834]
Education Update
(5 years, 1 month ago)
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The Secretary of State for Education (Gavin Williamson)
Education is key in creating a productive economy as well as maximising the opportunities for future generations. It is vital we are supporting the right mix of skills and delivering for all young people so that they can reach their potential, regardless of their background.
The Government recently announced an additional £400 million investment in the provision for 16 to19-year-olds. Building on this investment, today I have set out a series of measures to ensure we have the opportunities and infrastructure in place to offer a world-class education to everyone—so that more young people are supported to reach the level of qualification needed to access skilled employment.
We are making good progress in boosting higher-level technical qualifications through our institutes of technology. Twelve institutes are already being established across the country—backed by £170 million of Government investment—to provide employers with the skilled workforce they need to drive growth and productivity across the country and get more people into rewarding jobs. To build on this, the Government will make available up to £120 million to enable every region in England to establish a high-quality institute of technology. We will launch a second competition with the aim of establishing up to eight more institutes in areas of the country that do not currently have access to one.
To continue driving up standards and support more disadvantaged young people aged 16 to 19 to study maths, we will open a network of 11 maths free schools across every region of the country, including a new maths free school in the north-east through a partnership between Durham University and Durham Sixth-Form College. Maths schools offer A-levels in maths, further maths and physics in partnership with top universities —helping young people, whatever their background, to fulfil their potential by learning from the best mathematicians.
Apprenticeships and technical education play a huge role in driving productivity and ensuring our country has the skills it needs. Today I have set out an ambition to boost further education over the next decade with an aim to overtake Germany in the opportunities we offer to those studying technical routes by 2029.
As we improve our offer of technical education, it will be important that we remain focused on the right skill mix for the economy. We will establish a new skills and productivity board to provide the Secretary of State with expert advice on how to ensure the courses and qualifications on offer to students are high-quality and aligned to the skills that employers need for the future.
[HCWS1837]
Labour Market Update
(5 years, 1 month ago)
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The Secretary of State for Work and Pensions (Dr Thérèse Coffey)
Latest data released in September shows UK employment has increased by 3.7 million since 2010. Around three-quarters of that increase in employment has come from full-time, permanent and higher-skilled roles. Youth unemployment has also halved since 2010, meaning more young people are in work and the number of children growing up in in workless households is at an all-time low.
It is important that we continue to build on this progress so I am introducing a £4 million package, including two new initiatives, to help disadvantaged young people into work and use mobile technology to help jobseekers into higher-paid jobs.
Additional funding of up to £1.2 million will provide extra support in Manchester and the west midlands, ensuring extra time and resources for young people facing the biggest hurdles to getting a job, like care leavers and young offenders.
Since 2018 the Department for Work and Pensions has worked with the West Midlands Combined Authority to develop the youth employability coaches concept (previously known as progression coaches). Following this successful pilot, we will be expanding the programme to other parts of the west midlands and Greater Manchester area to reach more disadvantaged young people. Youth employability coaches will continue to support young people for up to six weeks after they start a job, helping them continue to build skills and stay in employment.
A new data service will also be piloted, initially in Manchester, with up to £2.8 million funding. Using the latest data-analysis technology, this service will gather a range of skills and labour market data from a variety of public and commercial sources.
It will provide local areas with high-quality and real-time information on skills supply and demand. Additionally, jobseekers or those seeking to progress in work will be able to search for roles based on their skills and experience. The pilot service will show them what new skills they need to move into higher-paid roles available near them. By providing more tailored local labour market intelligence we can help individuals find jobs, back businesses, grow our economy and help people reach their full potential.
Both pilots have the potential to be rolled out nationally, helping reduce youth unemployment even further after it fell 48% since 2010, and helping more people boost their earnings.
[HCWS1835]