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Gloucestershire Business News

Chancellor confirms one-year spending review

Chancellor Rishi Sunak has confirmed he will outline a one-year review of Government spending plans next month.

The Government was expected to publish a multi-year review but after the affects of the coronavirus pandemic on the economy has seen them change plans.

The 2021-22 Spending Review, which will set out resource and capital budgets for departments and grants for devolved administrations - will be published on November 25.

Mr Sunak said: In the current environment it is essential that we provide certainty.

"So we'll be doing that for departments and all of the nations of the United Kingdom by setting budgets for next year, with a total focus on tackling Covid and delivering our Plan for Jobs."

He continued: "Long-term investment in our country's future is the right thing to do, especially in areas which are the cornerstone of our society like the NHS, schools and infrastructure.

"We'll make sure these areas crucial to our economic recovery have their budgets set for further years so they can plan and help us Build Back Better."

The Treasury said the review would focus on three areas - providing departments with certainty to tackle Covid-19, giving public services enhanced support and investing in infrastructure.

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