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Tag: funding

NHS funding: Brexit 'won't save enough' to fund £20bn boost

NHS funding: Brexit 'won't save enough' to fund £20bn boost

Health
The government will not reveal how a £20bn boost to the NHS is funded until the autumn budget - but any savings from Brexit will not be "anything like enough", the health secretary says.Jeremy Hunt also said there "will be an increased burden of taxation" to fund the 3.4% average annual rises to 2023.It came after Theresa May said the NHS funding boost in England would be partly funded by a "Brexit dividend".Labour's John McDonnell called the funding model "not credible".The prime minister announced at the weekend that the government's plan to increase the NHS budget over the next five years.The plan means more money will be given to the rest of the UK - about £4bn - although it will be up to the Welsh and Scottish go...
NHS funding: Theresa May unveils £20bn boost

NHS funding: Theresa May unveils £20bn boost

Health
Media playback is unsupported on your device The NHS in England is to get an extra £20bn a year by 2023 as a 70th "birthday present", Theresa May says.It means the £114bn budget will rise by an average of 3.4% annually - but that is still less than the 3.7% average rise the NHS has had since 1948.The prime minister said this would be funded partly by a "Brexit dividend", but also hinted at tax rises.Labour said the government had failed to fund the NHS properly and was relying on a "hypothetical" windfall.Shadow health secretary Jonathan Ashworth said Labour's taxation plans meant his party could match the Conservatives' spending plans and "will go further".In her BBC interview, Mrs May did not spell out how the £20bn a year ...
P2P giant Funding Circle banks on £1bn float

P2P giant Funding Circle banks on £1bn float

Business
Funding Circle, the UK's biggest peer-to-peer lending platform, is preparing to hire advisers to oversee a £1bn-plus London flotation.Sky News has learnt that the company has told investment banks that it will hold a beauty parade towards the end of the first quarter of 2018, with a listing possible as soon as the late autumn.A flotation of Funding Circle, one of Britain's most prominent financial technology companies, has been anticipated for some time, and will stir enormous anticipation among City bankers.Funding Circle, which launched in 2010, has matched lenders to tens of thousands of small business borrowers‎, facilitating loans totalling more than $ 5bn globally during its seven-year existence.Its rapid growth has earned it the status of one of the UK's few fintech "unicorns" - com
Lord Kerslake resigns in NHS funding protest

Lord Kerslake resigns in NHS funding protest

Health
Lord Kerslake has resigned as the chairman of a major London hospital trust because of NHS funding problems.The former head of the civil service says the government is being unrealistic about the challenges facing the health service.He announced he was stepping down as chairman of King's College Hospital NHS Foundation Trust on Sunday.NHS Improvement described the hospital's financial performance as "unacceptable".A spokeswoman added: "It is the worst in the NHS and continues to deteriorate."If you can't see the NHS Tracker, click or tap here. In a statement, Lord Kerslake said of his decision to quit: "I do not do this lightly as I love King's but believe the government and regulator are unrealistic about the scale of the challenge facing the NHS and the trust."I want to pay tribute to th...
Science funding: Will 'picking winners' work?

Science funding: Will 'picking winners' work?

Science
An ambitious Conservative minister has set out a strategy to turn the UK's scientific expertise into new products and services that will generate jobs and wealth for the economy. That was in 1983. The minister was Kenneth Clarke, who launched the £350m Alvey programme. It was designed to propel Britain to the forefront of advanced computing. But the policy of government subsidies for the research and development of favoured companies - known as "picking winners" - did not fit in with Margaret Thatcher's policy of introducing free market principles to the economy. Five years after its inception, the government pulled the plug on the Alvey programme.Thirty five years on, another Mr Clark, the Business Secretary, Greg Clark, announced £140m to support collaboration between industry and academ