To ask the Secretary of State for Business, Innovation and Skills, with reference to HM Treasury's press release, Chancellor announces £4.5 billion of measures to bring down debt, published on 4 June 2015, what assessment he has made of the effect on productivity of delivering efficiency savings from his Department's budget.
The Department for Business, Innovation and Skills will deliver £450 million of the Chancellor’s announced £4.5 billion savings announced on the 4th June. The majority of this will be delivered through known underspends and releasing unallocated funding.
Officials in the department are working with the appropriate funding bodies to determine how savings can best be achieved in line with Ministerial priorities.
Priority areas for growth and productivity, including funding for apprenticeships and science, will not be affected – raising the skill level of the workforce and developing new ideas are fundamental drivers of long-run productivity growth.