Spending review: Chancellor Rishi Sunak unveils multi-billion pound investment

Rishi Sunak today revealed what the Government will spend hundreds of billions of pounds on in the coming years, including £38billion for public services to fight Covid-19 for the final weeks of this year.

The Chancellor also pledged £55billion to battle the pandemic in 2021, including £2.6billion for devolved administrations, as he set out his plans in the Spending Review at the House of Commons this afternoon.

Mr Sunak also promised a £6.3billion cash increase in NHS spending, a £2.2billion rise for the schools budget and £400million to help recruit 20,000 more police officers by 2023.

Other expenditure included £63million to tackle economic crime, £337million extra money for the criminal justice system and £254million of funding to tackle homelessness and rough sleeping.

Also promised was £100billion of capital expenditure next year on infrastructure, and Mr Sunak confirmed the Prime Minister’s announcement for more than £24billion of investment in defence.

Further items were £4.2billion for NHS operational investment next year, £260million on digital infrastructure programmes and £5.2billion to double flood and coastal defence investment across England over six years.

Here is the full list of what Mr Sunak promised in his Spending Review today: 

  • £38billion extra for public services to fight Covid-19 this year
  • £55billion to tackle coronavirus in 2021, including £2.6billion for devolved administrations.
  • £6.3billion increase in NHS spending in 2021-22
  • £2.2billion rise for the core schools’ budget in 2021-22
  • £400million to help recruit 20,000 additional police officers by 2023, with 6,000 new officers in 2021-22
  • £63million to tackle economic crime,
  • £337million extra funding for the criminal justice system and a counter-terrorism operations centre
  • £254million of funding to tackle homelessness and rough sleeping.
  • £3.6billion on the Plan for Jobs, including a £2.9billion ‘Restart scheme’ to help unemployed people find work
  • £100billion of capital expenditure next year on infrasutrcture
  • £4billion ‘Levelling Up Fund’ to invest in infrastructure with ‘a visible impact on people and their communities’ 
  • £10billion of foreign aid, officially known as ‘Official Development Assistance’, in 2021-22.
  • £24billion investment in defence, confirming recent announcement by Boris Johnson
  • £19billion of transport investment next year, including £1.7billion for local roads maintenance and upgrades
  • £15billion on research and development in 2021-22
  • £4.2billion for NHS operational investment next year for hospitals to refurbish and maintain infrastructure
  • £325million of new investment in NHS diagnostics equipment
  • £260million on digital infrastructure programmes, such as 4G rural networks and 5G programmes
  • £58billion of investment confirmed for road and rail
  • £20billion of investment on housing, including £7.1 billion for a National Home Building Fund
  • £5.2billion on flood and coastal defence investment across England over six years
  • £1.2billion to subsidise the rollout of gigabit-capable broadband
  • £2billion of funding for High Speed 2 rail
  • £8.91/hour – Increase in the National Living Wage, by 2.2 per cent from April 2021 
  • At least £250 pay rise – For 2.1 million public sector workers who earn below the median wage of £24,000

Link hienalouca.com

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