Skills Minister Matthew Hancock said the number of children that fail to achieve a C grade in maths and English is "scandalous".
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Among those expected to attend the ceremony will be former US President Bill Clinton and ex-Northern Ireland first minister Peter Robinson.
Five people have been killed and 40 injured after a car and knife attack in London on Wednesday.
A wet, wintry night in places with rain and hill snow slow to move away from southern Scotland and northern England.