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Chancellor confirms Spending Round will be delivered on 4 September

The Spending Round will be delivered on Wednesday 4 September, the Chancellor of the Exchequer confirmed yesterday (27 August).

The fast-tracked Spending Round will set departmental budgets for 2020/21. As announced earlier this month, a full multi-year Spending Review is now due to take place in 2020.

Chancellor Sajid Javid will announce the conclusions of the Spending Round in a statement to Parliament.

The Spending Round will deliver on the Prime Minister’s priorities – including health, schools, and the police – while still meeting the existing fiscal rules.

Thanks to the hard work of the British people over the last decade, we can afford to spend more on the people’s priorities while still meeting the fiscal rules.

Additional information

  • This is a one-year Spending Round which will fund departments’ day-to-day spending 2020/2021. It will meet the current fiscal rules.
  • In 2020 a full Spending Review will be held, reviewing public spending in the round and setting multi-year budgets.
  • Departmental day-to-day spending is financed through resource budgets and covers important priorities such as pay or schools’ running costs.
  • Capital budgets, used for long-term projects such as infrastructure, are already in place for 2020/21.

 

Channel website: https://www.gov.uk/government/organisations/hm-treasury

Original article link: https://www.gov.uk/government/news/chancellor-confirms-spending-round-will-be-delivered-on-4-september

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