The Chancellor has announced a package aimed at supporting people into work, education, and training, while also developing a skilled workforce for the future. This initiative includes the use of the National Wealth Fund to create and support 130,000 jobs across the UK by 2030, in sectors such as AI, technology, defence, and clean energy.
In a boost for the advanced manufacturing sector, Rolls-Royce will invest £300 million in its manufacturing and engineering facilities across the UK. This includes over £140 million in Derby for new engineering and manufacturing services, more than £90 million in Bristol for a major facility upgrade, £43 million in Inchinnan, Glasgow, and £19 million in Rotherham to double the output of advanced turbine blades by 2030.
Funding for local apprenticeship services will be expanded to all 14 existing Mayoral Strategic Authorities across England from Spring 2027, with £100 million of additional funding over two years. This aims to deliver thousands more youth apprenticeships. Additionally, the Union Learning Fund will be restored with £15 million a year in England, intended to help working people acquire new skills and adapt to technological changes, including AI. The fund will be accessible to all employees, not just union members.