The communities secretary has confirmed the government s widely anticipated reviews of the business rates system and the fair funding of councils will be further delayed until at least next year, while its proposals for devolution are now not expected to surface until the second half of this year.
But Robert Jenrick also claimed the sector s handling of the pandemic “builds the case for devolution” and assured councils of a “very strong role” in two large funding pots unveiled at this year s spending review, the UK Shared Prosperity Fund - worth £220m this year, when it is being piloted - and the £4bn Levelling Up fund.
Fibre2Fashion
Steps by UK Government to empower businesses By: Click to explore our newest AI enabled Analytics. Share
The UK government has taken a slew of measures to uplift the country s business sectors and ease trade relations between UK and other countries. This includes the UK Internal Market bill, UK s Membership in CPTPP, UK-Japan FTA and many others. Fibre2fashion presents a detailed report.
UK Internal Market Bill
The UK government has introduced a new bill in parliament to protect jobs and trade across the whole of UK after the transition period ends. From January 1, 2021, powers in a range of policy areas previously exercised at EU level will flow directly to the devolved administrations. Without urgent legislation to preserve the status quo of seamless internal trade, rules and regulatio
Expenditure increases include £385m in extra funding for core NHS services, taking funding for NHS Wales to more than £8.4bn. There is an extra £10m in capital funding for diagnostic equipment and an extra £6m for energy efficiency within the NHS.
There is an uplift of £176m for local government, taking account of the effect of the pandemic on business rates collection and the freeze in the business rates multiplier in 2021-22, with an additional £37m for social housing.
The increase in education spending includes an additional £22m for sixth forms and further education colleges as more students are predicted to stay in education next year, while there is an additional £40m for capital spending on schools, including £5m for net-zero carbon schools.
BBC News
By John Campbell
Published
image captionInvest NI got a substantial part of its budget from two EU funds, the ERDF and the ESF
Invest NI - Northern Ireland s economic development agency - is facing a potential funding shortfall due to the loss of EU grants.
A substantial part of its budget was from an EU fund, the ERDF.
These funding sources will be sharply reduced as a result of Brexit.
Economy Minister Diane Dodds said the new UK Shared Prosperity Fund would provide significantly less than the EU schemes.
Mrs Dodds, of the DUP, said the Department for the Economy and its arms-length bodies, which include Invest NI, typically got about £100m a year from EU sources.
Diane Dodds warns loss of EU funding represents huge financial risk” for her department Economy Minister Diane Dodds has said her department is facing a £70m shortfall in 2021/22 from the loss of EU funding. Ryan McAleer 17 December, 2020 01:00
DUP Economy Minister Diane Dodds has warned that the loss of EU funding “represents a huge financial risk” for her department.
Speaking to Stormont’s Economy Committee on Wednesday morning, the former pro-Brexit MEP said EU funding was worth around £100m per year to the Department for the Economy and its various arms lengths bodies, including Invest NI.
She said her department is facing a £70m shortfall in 2021/22 from the loss of EU funding, with little sign London will step in to fill the void.