Spending Review 2015
What is the Spending Review?
The Spending Review is a Treasury-led process to allocate resources across all Government departments in accordance with Government's priorities. It’s part of the Government's normal Budget process.
In Spending Review 2015, Treasury is inviting Government departments to set out plans for reductions to their resource budgets. In line with the approach taken in 2010, it is asking departments to model two scenarios, of 25 per cent and 40 per cent savings in real terms, by 2019-20. The review allows the Government to set the spending limits for every Government department. It’s up to departments to decide how best to manage and distribute this spending within their areas.
FTA's submission to Spending Review 2015
In its submission to Spending Review 2015, FTA has told the Chancellor that infrastructure investment is key to future growth. The submission focuses on some key themes.
- Investing in the strategic roads and rail network must continue to be high priority for Government - as efficient movement of goods relies on these and the economy in turn relies on freight
- FTA welcomes the retention of spending plans for both road and rail following the General Election but emphasises that Government must continue to ensure that the networks that we already have are maintained
- Infrastructure networks should also be developed further to ensure that the UK can compete in global terms, especially through airport investment
- In the context of wider productivity improvement, FTA says that Government should focus spending on developing skills as a priority
View FTA's summary of the outcome of Spending Review 2015 and Autumn Statement 2015 here.