Mar 3, 2021

Budget 2021: What is levelling up and how is it going?

The chancellor announced an extra £111m to fund work placements and training for 16- to 24-year-olds in England. As for the National Skills Fund, the chancellor announced an initial £375m for it in November. The government has set up a £23m support scheme to cover losses incurred in the fishing industry, as well as a new £100m fund to modernise fishing fleets and rejuvenate coastal fishing facilities. Freeports are a big favourite of both the prime minister and chancellor, and eight freeports for England were announced in the Budget. Discussions are under way about where other freeports will be in the UK. The chancellor said they would provide "An unprecedented economic boost across the UK". But a report this week from UK in a Changing Europe found little evidence that freeports create additional jobs, suggesting that at best the zones would relocate economic activity and jobs.

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