Our statement on the government's plans to increase funding for investment zones

We welcome the Chancellor’s commitment to investment zones in the Spring Budget and are optimistic about the pivotal role universities can play in supporting the government’s plans for economic growth in the country. Our universities are leading the way in supporting and working with SMEs across the country giving local businesses access to state-of-the-art facilities and support and skills, to grow and innovate, for example through University Enterprise Zones. This much needed investment will aid in deepening local ties between universities, SMEs, and support the upskilling of people in local communities. Universities UK (UUK) is keen to work with government on implementing its plans for investment zones around higher education institutions and look forward to seeing what the future holds.

Through building collaborative hubs for skills development, universities can reach out to left behind areas and create opportunities and jobs for local people which supports the government’s levelling up agenda. Although this announcement is a step in the right direction, we continue to urge the government to further develop initiatives such as degree apprenticeships and the lifelong loan entitlement as we will need the skilled graduates to maximise the economic impact of the investment zones.