The Chancellor has announced a one-year spending review to be competed in September, to help Government departments prepare for Brexit. This means that the planned three-year comprehensive spending review will be postponed until later next year.

Chief Secretary to the Treasury Rishi Sunak said: “This spending round will give financial certainty to departments’ plans for next year… We will invest in the priority areas of schools and policing, while delivering our promises on the NHS, defence and Official Development Assistance [foreign aid].”

Spending reviews are regularly carried out by the Treasury to fix firm expenditure limits and set out what to expect from the Government.