To view this licence, visit This includes expanded Business Rates reliefs, a Coronavirus Business Interruption Loan Scheme to support up to a further £1 billion lending to SMEs, a £2.2 billion grant scheme for small businesses, and a dedicated helpline for those who need a deferral period on their tax liabilities.Tackling COVID-19 is a global challenge, and to complement our domestic response the Budget sets out steps the UK is taking to lead a swift and effective global response to deal with the impacts of the virus.The measures set out in the Budget to support health and other public services, protect people and families and support businesses will be reflected in the public finances at Autumn Budget 2020.The people of the UK are rightly proud of its world-class public services. Productivity can vary significantly within each of the nations and regions as well as between them (Chart 1.5).In the long term, higher productivity remains the only path to sustainable economic growth and rising living standards. This funding demonstrates this government’s ongoing commitment to ensuring that our veterans can access the services and support that they deserve.Southampton Spitfire Memorial – The government will provide up to £3 million match-funding to support the construction of a memorial to the Spitfire on the Southampton waterfront, in recognition of the individuals who built and flew the aircraft in the Second World War.Further education capital funding – The government will provide £1.5 billion over five years (£1.8 billion inclusive of indicative Barnett consequentials), supported by funding from further education colleges themselves, to bring the facilities of colleges everywhere in England up to a good level, and to support improvements to colleges to raise the quality and efficiency of vocational education provision.Institutes of Technology – The government will provide £120 million to bring further education and higher education providers in England together with employers to open up to eight new Institutes of Technology. To complement its domestic response, the UK is leading the way to ensure a swift and effective global response, including by working closely with all our international partners and supporting the most vulnerable countries to deal with the impacts of the virus, including cooperating closely with counterparts in the G7 and G20. This significant increase in spending means that by 2024-25, public sector net investment will be triple the average investment over the last 40 years in real terms, as shown in Chart 1.9.This spending will provide world-class infrastructure and public services, delivering value for money and focussing on efficient delivery.
Local authorities will be fully compensated for these Business Rates measures.Small business grant funding – The government recognises that many small businesses pay little or no business rates because of Small Business Rate Relief (SBRR). Having taken expert advice, the Budget confirms an additional £1 billion to remove unsafe cladding from residential buildings above 18 metres to ensure people feel safe in their homes. This deal will provide £1.1 billion of investment for the area over 30 years, as well as devolving significant new powers to the area on transport, planning and skills. The government is considering the long-term future of incentives for zero emission vehicles alongside the 2040 phase-out date consultation. Where they have one tank for propulsion and heating, the government will explore options that prevent them from having to pay a higher rate of duty on their heating use than they would otherwise have to pay. 801,060 people like this. To address this issue, the government has committed to a new £2.5 billion (£3 billion inclusive of indicative Barnett consequentials) National Skills Fund to improve the technical skills of adults across the country. In addition, the economy could be affected by a reduction in consumer spending and lower business investment, largely reflecting the response to measures to contain the outbreak, and weaker demand for UK exports.Growth is distributed unevenly across the UK. It will also consider how project approval decisions are being made and provide clearer guidance and support to practitioners.