In order to prioritise the response to Covid-19 the Chancellor and the Prime Minister have decided to conduct a one-year Spending Review, setting department’s resource and capital budgets for 2021-22, and Devolved Administration’s block grants for the same period.
Multi-year NHS and schools’ resource settlements will be fully funded, as will priority infrastructure projects.
The Spending Review will build on that support and focus on three areas:
- Providing departments with the certainty they need to tackle Covid-19 and deliver our Plan for Jobs to support employment;
- Giving our vital public services enhanced support to continue to fight against the virus alongside delivering first class frontline services; and
- Investing in infrastructure to deliver our ambitious plans to unite and level up the country, drive our economic recovery and Build Back Better.
AIA chief executive, Philip Turnbull, said: “With the current economic uncertainty created by Brexit and the ongoing coronavirus outbreak, we welcome a pragmatic short term spending review, however businesses need to see a long-term strategy to boost confidence and create some much needed certainty around jobs and investment.”
With the current economic uncertainty created by Brexit and the ongoing coronavirus outbreak, we welcome a pragmatic short term spending review, however businesses need to see a long-term strategy to boost confidence and create some much needed certainty around jobs and investment.
