See the results of the Labour Government’s first Spending Review, and how stakeholders reacted.
The Spending Review will set out the Government’s plans for departmental spending for three years, and capital investment for four.
Although spending reviews are routine, this one is different. This is a zero-based review, which means every line of spending will be justified from the ground up. This is the first zero-based review in 17 years, with a focus on value for money.
Headline outcomes of the Spending Review included:
- A commitment to spend 2.6 percent of GDP on defence by 2027.
- An increase in the NHS’ real-terms day-to-day spending of 3 percent per year, for every year of the Spending Review, equating to an additional £29bn per year.
- R&D funding will rise to £22bn per year by the end of the Spending Review period.
- A £14.2bn Government investment in the Sizewell C nuclear power plant.
Industrial Strategy webinar: Understanding the UK’s Long-Term Growth Plans
That’s not all. The Government’s Industrial Strategy, a 10-year plan for high-growth sectors, is forecast to be released later in June.. If you want to understand how the Industrial Strategy will impact businesses, individuals, and the broader UK economy, then make sure to join us for our in-depth webinar on Wednesday 2nd July from 11am UK time.
Learn more about the Industrial Strategy webinar
A selection of departmental outcomes and stakeholder reactions to the Spending Review can be viewed by filling out the form below. If you would like to receive the full report, please contact our Customer Service team at customer.service@dodsgroup.com.