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Chancellor to hold Spending Review in November

Chancellor Rishi Sunak will deliver a one-year Spending Review next month, the Treasury has announced.

Last week, the Treasury abandoned plans for its long-term comprehensive spending review, amid ongoing economic uncertainty caused by COVID-19.

Next month’s review will aim to provide departments with “the certainty they need” to tackle the coronavirus outbreak, while further supporting jobs in 2021/22.

Sunak said:

“In the current environment it’s essential we provide certainty. So we’ll be doing that for departments and all of the nations of the UK by setting budgets for next year, with a total focus on tackling COVID-19 and delivering our plan for jobs.”

The Chancellor will also deliver the second economic forecast from the Office for Budget Responsibility, but no tax changes are expected to be announced until the spring. 

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