Delivering the Summer Budget 2015 today in the house of commons, Osborne said the number of cadet units will be expanded to 500, with schools in “less affluent” areas being prioritised.
He told parliament that the £50m expansion would be paid for through a levy on banks.
“Banks make a key contribution to our economy, but also need to make a fair contribution,” he said.
The move is the latest attempt by government to support cadet units in schools.
Last year the coalition government launched a £1m bursary scheme as part of a bid to open 100 new cadet units in state schools by 2015, paid for by Libor fines.
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