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The Spending Review
Chancellor George Osborne has announced details of the Government’s four-year public spending plans.
The Spending Review has allocated resources across all government departments according to the Government’s priorities and has set firm and fixed spending budgets for each department from 2011-12 to 2014-15.
The three principles governing the Government’s approach are fairness; driving out waste and promoting reform; and prioritising capital spending that supports sustainable economic growth.
The Chancellor told the House of Commons that it was essential to deal with the deficit now to ensure prosperity in the future.
He said:
“To back down now and abandon our plans would be the road to economic ruin. We will stick to the course. We will secure our country’s stability. We will not take Britain back to the brink of bankruptcy.”
Spending Reviews have been an important part of governmental planning since the late 1990s. Learn more about Spending Reviews on the Treasury website
Today’s announcement follows the publication of the Strategic Defence and Security Review, which set out the Government’s priorities for defence and security spending.
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