■ BUSINESS BANK
Business secretary Vince Cable will today announce that he is looking to set up a government-backed lender for firms that find it difficult to obtain funding in the private sector. The scale and model are yet to be decided, but it could operate through one of the smaller “challenger banks” or non-bank lenders.
■ BACKING FOR INDUSTRIES
Cable singles out the car, science and aerospace sectors as fertile grounds for long-term government support in the global market. His department will also examine ways the state can help nuclear, oil and agriculture firms compete.
■ TECH SUPPORT
The minister wants the coalition to do more to support capital-intensive research and development, and will set out plans for a synthetic biology innovation centre.
The first bids are in for around £67m of funding for vocational training, with 34 companies vying for investment that could create up to 11,000 new apprenticeships, Cable will announce.
Cable will report back on the government’s push to procure more services from Britain’s smaller companies, and outline the next step in these reforms.