In October, the chancellor stood up in the House of Commons and spoke for an hour or two setting out both the Budget and the outcome of a comprehensive Spending Review (HM Treasury, 2021; SecEd, 2021).
The UK has a well-established budgeting framework, which includes the Budget statement and the Spending Review. In the last few years though, we have witnessed a rather topsy-turvy timetable – budget dates have been moved, spending review cycles have been rather shorter than we usually expect, and that was before the pandemic disrupted the nation’s finances.
What’s in it for you?
The Budget is a statement on the nation’s finances and the government’s proposals for changes to taxation that are required to deliver on public spending commitments. This will impact on our own purse but has less direct impact on your school budget. The Spending Review, on the other hand, sets out the amount that the government plans to spend across departments and on public services. It is the part of the process that really matters to education.
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