26 November 2020: Against a gloomy backdrop of the largest annual GDP fall in 300 years, the Chancellor announced unparalleled levels of spending and borrowing to meet the challenges of COVID-19 in 2021 and beyond.
Coronavirus and the public sector
The coronavirus (COVID-19) is driving major changes in the public sector and dramatically affecting public finances. Find out more about what is happening and how it may affect you.
26 November 2020: The Office for Budget Responsibility presented its latest economic and fiscal forecasts to accompany yesterday’s Spending Review. As expected, the forecasts were far from pretty.
26 November 2020: The government’s plans for levelling up the UK are welcome, but more detail is needed on how funds will be spent and what that means for businesses.
20 November 2020: The #icaewchartoftheweek takes a look at the Irish Government’s fiscal plans for 2021 and how it plans to tackle the twin headwinds of COVID and Brexit.
19 November 2020: 8,600 pandemic-related contracts worth £18bn were entered into in the period up to 31 July 2020, but a lack of transparency in how they were awarded has given rise to serious concerns about how public money has been spent.
17 November 2020: Croydon Council has gone into section 114 ‘bankruptcy’ following years of overspending, losses on commercial investments and the effects of the coronavirus pandemic. What went wrong?
Nick Levine considers the extension of the government’s SME lending scheme and considers what the fallout may be for lenders and businesses.
16 November 2020: Alison Ring, ICAEW’s director for public sector, has written to the Chief Secretary to the Treasury ahead of the Spending Review to stress the importance of investment in infrastructure, data and financial management.
6 November 2020: Will the Spending Review on 25 November be accompanied by the long-awaited National Infrastructure Strategy that will set out a framework for public and private investment in the UK for the coming quarter of a century?
Shop closures during lockdown left a hole in charities’ budgets, but continued rate reliefs and an extension to the retail grant scheme would help charity shops recover.
The Bank of England sets out series of measures to help keep firms in business and people in jobs.
Government Stimulus tracker created by KPMG providing an overview of government measures and economic aid packages around the world in response to COVID-19. Summaries are given for each country or jurisdiction with general information, tax measures, economic stimulus measures, employment-related measures, customs measures, and other aid.
Research and analysis from the Institute for Fiscal Studies (IFS) on the effect of the coronavirus on the UK economy and the public finances.
Latest data and analysis on coronavirus (COVID-19) in the UK and its effect on the economy and society.
IMF coronavirus hub analysing policy actions being taken by governments around the world.
Guidance and commentary
Regularly updated information and analysis of UK government coronavirus contracts and spending. It covers value of contracts awarded, contract awards by level of government, and top suppliers.
A Q&A issued by the International Public Sector Accounting Standards Board (IPSASB) highlighting the financial reporting issues associated with government responses to the coronavirus, the relevant IPSAS and other existing guidance.
Research briefing looking at the effect of the coronavirus and policy responses on the UK economy and public finances.
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