Osborne pledges extra cash for apprenticeships in spending review

The chancellor also pledged £200 million a year by 2014-15 to support manufacturing and business development. However, schemes like Train to Gain will be abolished under the government's plans to cut £400m administration costs at the Department for Business. Osborne vowed to recruit recruit 75,000 new apprentices by 2014. Plans to increase spending by upto £250 million a year signalled the "largest ever investment in apprenticeships" by a government , Osbone said. Extra cash will aslo be available to support high growth companies and the commercialisation of technologies, the chancellor revealed. The government pledged funding towards research and devlopment centres focused on new technology. But, cutbacks will come at the Department for Business, which will have to deliver annual savings of 7.1% under spending review plans. Funding for the Science budget will be protected at £4.66 billion. Osborne said the government wanted to reinforce the UK's reputation as a "world leader" in science and research. Green energy also received a boost as the government pledged £1bn to developing a green investment bank. A further £200m will be made available for offshore wind energy and ports. The chancellor said £30bn will be invested in transport projects over the next four years. Projects included improvement works on major motorways including widening the M25 at ten junctions, Osborne revealed.