On 25 November 2020 Rishi Sunak will deliver the UK Spending Review. The primary purpose is to set out the government’s departmental spending plans for the 2021-22 financial year that starts on 1 April 2021, but there is a lot more to it than that. Read insights and analysis from ICAEW's experts.
26 November 2020: The Spending Review highlighted the crucial role private infrastructure investment must play in the COVID-19 economic recovery, with the confirmation of plans for a National Infrastructure Bank.
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.
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: Smaller Announcements from the UK government’s spending review including, confirmation of a freeze in the business rates multiplier, funds for Companies House reform, a pledge that the UK Shared Prosperity Fund will match EU receipts and more apprenticeship funding for SMEs.
26 November 2020: Hidden in the spending review was a statement that some income tax allowances and thresholds and national insurance limits would increase in line with the September CPI figure. ICAEW’s Tax Faculty explains what this means.
23 November 2020: ICAEW’s public sector director Alison Ring has called for the focus of Wednesday’s Spending Review to be on how the government can put in place building blocks for economic recovery.
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?