Although the Budget contained few measures specifically for the Higher Education sector, the Chancellor's speech did announce a number of grants to support science and innovation, and to encourage ongoing education and development, including:
- £50 million of funding for an “early years pupil premium” to help improve outcomes for the most disadvantaged three and four year olds in government funded early education.
- £20 million of funding over two years to support apprenticeships up to postgraduate level.
- An additional £85 million of funding in 2014/15 and 2015/16 to extend the Apprenticeship Grant for Employers scheme to provide 100,000 further grants to employers.
- An extra £106 million of funding to be provided over five years for an additional estimated 20 centres for Doctoral Training.
Going forward, the “Education is GREAT” campaign is to be extended to help attract more international students to the UK, and options for supporting increased participation in postgraduate studies will be put forward at Autumn Statement 2014.
Read KPMG’s general commentary on the 2014 Budget Report (PDF 1.31MB).