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.
24 November 2020: Major fiscal events can be confusing for those not familiar with the public finances – this brief explainer may help.
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.
ICAEW analysis of key annoucements
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.
More ICAEW analysis on public spending
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?
A response dated 5 June 2019 to a consultation published by HMT on 13 March 2019.