Chancellor Rishi Sunak delivered his spending review and autumn budget and confirmed a number of investments for the FE and skills sector.
He promised that “total spending on skills will increase over the parliament by £3.8 billion by 2024-25, equivalent to a cash increase of 42 per cent (26 per cent in real terms) compared to 2019-20”.
However, the accompanying red book fails to provide clarity about how much of this funding is brand new money. Much of it appears to be a rehash of funding that was already allocated.
