The British government will provide billions of pounds to fight the coronavirus, keep the promises it made to the British people and invest in the recovery of Britain, the Chancellor announced today.
Rishi Sunak provided the spending review, saying his immediate priority is protecting people’s lives and livelihoods as the country continues to battle the outbreak. Over the next year, £ 55 billion will be allocated to fight the virus.
He also explained how the government would deliver stronger public services – keeping the promises it had made to the British people to increase the departments’ daily core spending by £ 14. 8 billion in cash next year compared to 2020/21. From 2019/20 this corresponds to an average growth of 3. 8% per year, the fastest rate in 15 years.
The Chancellor also announced how the government will implement the next stages of its record infrastructure investment plans to fuel the UK recovery and a greener, stronger future with $ 100 billion in investments. GBP next year and 4bn. GBP to achieve Leveling Up Fund.
The Chancellor of the Exchequer Rishi Sunak set the budgets for government departments and block grants of the decentralized administrations for 2021/21 and said:
Today’s spending review meets the priorities of the British people. Our health emergency is not over yet, and the economic emergency has only just begun. Therefore, protecting people’s lives and livelihoods is our immediate priority.
However, today’s spending review also offers stronger public services – paying for new hospitals, better schools, and safer roads. And it offers a one-time investment in infrastructure. Job creation, economic growth, and increased pride in the places people call home.
The spending review builds on the unprecedented actions already taken to tackle the pandemic. It confirms an additional 38 billion. £ 55bn in public services to continue fighting the pandemic this year and another £ 55bn. GBP for departments to respond to Covid-19 next year including GBP 2. 6 billion for the decentralized administrations.
Investments to fight and suppress the virus – and save lives – include funding to improve testing capacity, buy vaccines, increase supplies of key Covid-19 medicines, and buy and distribute PPE.
Targeted funding is also being made available to support key public services so they can meet and recover from the challenges of Covid. This includes money to help the NHS restore and address late treatment, additional funding for local authorities, assistance for transportation, and funds to help the judicial system clear up residues.
Providing real improvements to day-to-day public services is at the core of the government’s vision to rebuild for a stronger future. The spending review fulfills the government’s promises to support a quality, resilient health system, improve standards of education, continue to fight crime to keep people safe, and assist local authorities in their efforts to serve local communities serve. This includes:
During the pandemic, the government provided an unprecedented package of economic assistance to protect and create jobs. The spend review builds on this and invests an additional £ 3. 6 billion to build on commitments made in the Jobs Plan.
This includes the new 3 year £ 2. 9 billion restart program to help more than 1 million unemployed people find work.
The spending review heralds the next phase of the government’s infrastructure revolution, with $ 100 billion in investments. GBP next year to fuel growth and support hundreds of thousands of jobs. It provides multi-year funding security for selected projects – such as school and hospitals rebuilding, housing and transport programs – and aims to attract additional investment in areas that will improve the UK’s competitiveness in the long term and support new investments in cutting-edge research and research into clean energy sources that are part of a Investing greener futures by cracking down on the Prime Minister’s Ten Point Plan on Climate Change.
The Chancellor has also put forward plans to promote the leveling-up agenda by creating a new leveling-up fund worth 4 billion. GBP, which invests in local infrastructure that has a visible impact on people and their communities and supports economic recovery. An updated Green Paper will also better link projects and programs to government goals, including leveling and net zero.
This is backed up by the new National Infrastructure Strategy, which outlines the government’s long-term vision for infrastructure investment, and a new UK infrastructure bank, headquartered in the north of England, that is working with the private sector to fund major new investment projects in the UK. To ensure that government policies that have the greatest impact on leveling are developed by people outside of London and the South East, the Treasury Department will set up its headquarters in the north next year. This is part of a wider work that will pull thousands of civil servants to the regions and nations of the UK.
To help people with their finances, the Chancellor also announced a 2 increase in the national living wage. 2% up to £ 8. 91 per hour from April 2021, which will probably benefit around two million of the lowest paid. Next to it 2. 1 million public sector employees below the 24th average wage. Earning £ 000 is guaranteed a minimum raise of £ 250. And to help businesses, the corporate rate multiplier will be frozen in 2021-22, saving UK businesses £ 575m over the next five years.
The spending review also strengthens Britain’s place in the world as open and outward looking, leading to the solution of the world’s most difficult problems. Great Britain will output the equivalent of 0. 5% of the national income as foreign aid in 2021. The spending review therefore sees 10 billion in 2021-22. GBP in Official Development Assistance (ODA). This will ensure the UK remains one of the largest foreign aid donors in the world.
To ensure security not only for Great Britain, but also for the whole world, the Chancellor also confirmed the Prime Minister’s announcement that more than 24 billion would be invested in defense. GBP to make. This is the largest sustained increase in 30 years.
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Rishi Sunak, Spend Review
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