Chancellor fast-tracks Spending Round to free up departments to prepare for Brexit
The Chancellor of the Exchequer yesterday announced a fast-tracked one-year Spending Round to ensure departments can focus on delivering Brexit by October 31.
Sajid Javid said the Treasury will carry out an accelerated exercise to ensure departments and devolved administrations have the financial certainty they need to deliver their plans on public services next year.
The Spending Round, which is due to complete in September, will support the commitments made by the Prime Minister since he came to office including the recruitment of 20,000 extra police officers and his ambition for additional funding for schools, as well as delivering the government’s promises on the NHS.
This will ensure the Government continues to keep borrowing under control and debt falling by meeting the existing fiscal rules.
The Chancellor of the Exchequer, Sajid Javid, said:
We will get Brexit done by October 31 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.
Chief Secretary to the Treasury Rishi Sunak 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 (ODA).
A one-year Spending Round completed in September will give Government the time and space to focus on delivering Brexit. The next multi-year Spending Review will now be carried out in 2020.
This summer’s work will set departmental day-to-day spending budgets for 2020/21.
- this is a one-year Spending Round which will fund departments’ 2020/2021 activities
- 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
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