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Spending Review 2020

26 November, 2020

It is that time of year again when the Chancellor stands up to tell us all how deeply in debt we all are, how much of our money he has spent and how much more he is going to spend next year.  Crucially the Spending Review doesn't go into detail about how the Chancellor is going to fund all of this - that will be unveilled in the budget - but it is interesting to see just how the Government spends our money on services and what we get for that money.

One thing we don't want in either the Spending Review or the Budget are too many surprises or too much excitement, and whilst Rishi Sunak has definitely delivered on that objective, it is interesting to see the state of our nation's finances, and what the Treasury thinks things will look like moving forward.

COVID-19 has been expensive, there is no way of denying that.  It will be a tough few years until the economy has grown enough to support our country's expenditure, but the growth projections that our Chancellor has announced are strong, and we can only hope they will prove accurate.

It is almost an afterthought that with just over a month to go there is still no Brexit deal, and we can only hope that the predictions of another 2% reduction in the economy in the event of a no deal Brexit do not come to pass.

For all the detail download and read our handy guide to the UK Government 2020 Spending Review

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