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Spring Statement 2019: Three-year spending review planned before summer

Chancellor Phillip Hammond has confirmed the Government will hold a  spending review of departmental funding before summer.

In today’s Spring Statement, the Chancellor said a full detailed spending review is expected later this year.

Plans for the review will begin in summer if a Brexit deal is agreed.

Hammond said: “I intend to launch a full three-year spending review before the summer recess, to be concluded alongside an Autumn Budget.”

It will be the first review since 2015 and is set to be focused on spending on raising productivity.

The review will allocate funding to departments for the 2020/21, 2021/22 and 2022/23 financial years.

This will set departmental budgets, including three-year budgets for resource spending.

The government said the spending review will also have a renewed focus on the “outcomes achieved for the money invested” – supporting a high-growth economy with public services.

Hammond says the review will also “reflect the public’s priorities between areas like social care, local government, schools, police, defence and the environment.”

Hammond said: “At this year’s Budget, I will set an overall path for public spending for 2020 and beyond. That is how responsible people budget. First you work out what you can afford and then you decide what your priorities are.

“The plan is higher wages, lower taxes, debt going down and a stronger Britain than ever before.”

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