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The UK government is going to continue the support towards enterprises, creating jobs and levelling up to recover its citizens from the pandemic crisis. For this in the upcoming budget, Rishi Sunak, UK Finance Minister is expected to set fairly tight limits in most of the areas of daily public spending. This will help in lowering public debt after a record surge in borrowing during the Covid-19 pandemic.

On October 24th, 2021, the finance ministry officials of the United Kingdom said that Rishi Sunak, British finance minister, is planning to fund £5 billion (US$6.9 billion in a programme of health research and also extra funds of £5 billion (US$6.9 billion) for further education in the next week’s budget. In one of his statements, he said that they want to make the UK the best place to start, invest and grow around the world.

Unlike the predecessors' policy of Sunak after the financial crisis of 2008-09, he is going to allow more leeway for long-term public investment that are designed to reward voters who backed Prime Minister Boris Johnson in the 2019 December's election.

The announcement follows the earlier news on the day of £6.9 billion, for regional transport projects ahead of a major review of government spending over the next 3 years. The investment in the transport project is £1.5 billion more than previously planned. The government did this to boost the living standards outside London through its 'levelling-up' agenda.

Prime Minister Boris Johnson’s government wants to promote apprenticeships and other alternatives to standard university degrees. As at present, it offers poor job prospects for many students and also does too little to tackle shortages in industries.

Funds for different fields:

Education: The finance minister also said that most of the education money is going to support pupils aged from 16 to 19 in England. This includes individuals who are studying new alternative qualifications to traditional school-leaving examinations which are the normal pathway to universities. Whereas around £550 million will be funded for education and training for older adults, which includes numeracy skills and 3-4 month courses in fields like construction, digital skills and roles in rail and nuclear industries. Also, he is planning to increase the inward investment by nearly £1 billion to create a £1.4 billion fund.

Health: The health ministry of Britain is going to receive £5 billion over the next 3 years and 2 billion in 2024 to fund research and development. This is 57% more in cash terms than before the pandemic.

Life Sciences Manufacturing: For electric car industries, more than £800 million will be reserved. Also, to attract life sciences manufacturing £350 million will be used.

Electronic Border Systems: For upgrading electronic border systems £700 million would be spent. This also includes replacing patrol boats which are used to combat smuggling and illegal migration.

For companies that are still struggling from the COVID crisis, separate business groups gave a cautious welcome to the extension by six months of a lending programme.

The head of economics at the British Chambers of Commerce, Suren Thiru said that the acid test for the schemes will be whether it is able to support the recovery of the country by getting credit flow to the firms who needed it the most.