Chancellor launches vision for future public spending

Government public spending plans to be set out at the Spending Review on October 27 alongside an Autumn Budget.

The three-year review will set UK government departments’ resource and capital budgets for 2022-23 to 2024-25 and the devolved administrations’ block grants for the same period.

The government said “core departmental spending will grow in real terms at nearly four per cent per year on average over this Parliament. By 2024-25 that means that core departmental spending will be £140 billion more per year in cash terms than at the start of the Parliament.”

Chancellor Rishi Sunak, said, “Since the start of the pandemic, we’ve delivered on an unprecedented scale to protect people’s jobs and livelihoods.

“Despite the worst economic recession in 300 years, we have not only got people back into work through the Plan for Jobs but continued to deliver on the priorities of the British people.

“At the Spending Review later this year, I will set out how we will continue to invest in public services and drive growth while keeping the public finances on a sustainable path,” he added on September 7.

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