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Spending Review replaced with ‘accelerated’ one-year round ahead of Brexit

News09 Aug 2019Sarah Williams

The government has delayed its multi-year Spending Review to next year, and will instead complete a fast-tracked one-year ’Spending Round’ in September,  to “free up” departments ahead of Brexit, it has announced.

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Government Spending Review replaced with “accelerated” one-year round ahead of Brexit #ukhousing #socialhousingfinance #treasury
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Chancellor of the exchequer Sajid Javid said that the “accelerated exercise” was intended to ensure that departments and devolved administrations “have the financial certainty they need to deliver their plans on public services next year”.

 

He said it would “clear the ground” ahead of October, to enable departments to focus on delivering the UK’s exit from the European Union, which the government has pledged to complete by 31 October.

 

The one-year round replaces the multi-year Spending Review which had been scheduled to take place this year, and will now only set departmental resource spending budgets for their activities in 2020/21.

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A full Spending Review will now take place in 2020, the government said, which will set budgets for multiple years.

 

Capital expenditure budgets are already in place for 2020/21.

 

Mr Javid, said: “We will get Brexit done by 31 October and put our country on the road to a brighter future.

 

“The prime minister and I have asked for a fast-tracked Spending Round for September to set departmental budgets for next year.

 

“This will clear the ground ahead of Brexit while delivering on people’s priorities.”

Rishi Sunak, chief secretary to the Treasury, said: “This Spending Round will give financial certainty to departments’ plans for next year.

 

“We will invest in the priority areas of schools and policing, while delivering our promises on the NHS, defence and Official Development Assistance.”

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