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This publication is available at https: Executive summary The first duty of government is to protect economic and national security, thereby allowing the government to extend opportunity for working people at every stage of their lives.
The Spending Review and Autumn Statement delivers on that priority. It sets out a long term economic plan to fix the public finances, return the country to surplus and run a healthy economy that starts to pay down its debt.
Over the last Parliament the country made huge progress in rescuing the economy. Now the task is to rebuild it. The Spending Review and Autumn Statement announces how the government will build on that progress while embarking on an ambitious plan to reform public services and devolve more power than ever before.
Across the Spending Review period day to day departmental spending will fall on average at less than half the rate of the preceding 5 years.
This means that, while the Spending Review and Autumn Statement includes difficult decisions to ensure Britain lives within its means, it has been possible to borrow less, invest more and smooth the path of consolidation. It forecasts employment to be CPI inflation is forecast to be below the 2.
Public sector net borrowing is forecast to fall to 3. Public sector net debt is forecast to fall each year reaching Sinceon average, the UK has been the joint fastest growing economy in the G7. But with debt at the highest share of GDP since the late s, risks remain and the job is not complete.
This puts Britain in its strongest position for almost half a century, ensuring it can begin to reduce its debts. This will mean that Britain is better prepared for future shocks, ensuring long term economic security.
Protecting the UK national interest means strengthening capabilities at home while projecting our influence abroad, ensuring Britain plays a leading role in shaping a more stable, secure and prosperous world.
The government is taking action to reward work and aspiration, reduce bills for households and support first time buyers in securing their own home. The Spending Review and Autumn Statement: The Spending Review and Autumn Statement is taking action to: Also includes health and education net public service pensions AME.
On this basis, no other segment in this table includes capital spending. Does not include grants from other central government departments. The UK economy and public finances 2. Fiscal responsibility has allowed monetary activism to support demand in the economy, alongside repair of the financial sector.
The government has undertaken supply-side reforms to deliver sustainable increases in standards of living. Improvements in the labour market are broad-based, demonstrated by:Here’s everything you need to know about writing your personal statement for university, and a personal statement example to help you get started.
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