UK Government Launches £500 Million Initiative to Fund Thousands of Science and Tech Degrees
By Anushka Malhotra
1 minute 29 seconds
Investment
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Quick Read: The UK’s new £500m skills initiative will fund advanced degrees in science and technology across 45 universities, aiming to build a skilled workforce to fuel economic growth and innovation.
In a significant move to address the UK’s urgent need for tech talent, the government has announced a £500 million funding drive to support thousands of new advanced degrees in science and technology. This initiative aims to bridge the digital skills gap, which experts say is holding back both the technology sector and the wider economy.
Photo Credit: Alecsandra Dragoi, DSIT
Announced by the Department for Science, Innovation and Technology (DSIT), the funding package will cover over 4,700 post-graduate degrees across 45 universities. The Labour government, elected on promises of economic growth, is looking to the tech sector as a cornerstone of the UK’s future. The degree funding, valued at £564 million and allocated through three UK Research and Innovation (UKRI) councils, will focus on critical fields such as biology, engineering, and environmental sciences. Technology Secretary Peter Kyle said:
"Investing in the next generation of scientific minds is essential for developing the innovations that drive economic growth," “This £500 million investment will allow bright students to pursue their talents, ultimately leading to advancements like life-saving drugs and cleaner energy sources that benefit everyone.”
The skills gap has become a pressing issue across both private and public sectors. A recent Federation of Small Businesses (FSB) survey found that 38% of SMEs in the IT sector report hiring challenges due to skill shortages. Public sector agencies are also feeling the effects; last year, a Public Accounts Committee report warned of the need for increased digital expertise within the civil service, where only 4.5% of employees hold roles in digital, data, or technology.
Education Secretary Bridget Phillipson underscored the government’s commitment to supporting the higher education sector, calling it a “vital engine of growth” for the UK. She also announced a broader initiative, Skills England, to ensure access to relevant training for young people and adults alike. Phillipson added:
"Our goal is to provide real opportunities in tomorrow’s economy, especially for areas like clean energy that are crucial to a sustainable future.”
By focusing on skills that will propel emerging industries, this government-backed initiative seeks to establish a sustainable pipeline of talent, aligning education with the country’s economic and environmental goals.
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