Economy

Sajid Javid ‘turning the page on austerity’ as election looms

Sajid Javid ‘turning the page on austerity’ as election looms”

The Department for Digital, Culture, Media and Sport will receive a 4.1% real-terms increase to its budget in 2020-21, the chancellor of the exchequer announced today in the government's spending round, which also includes funding meant to drive cultural participation.

Mr Javid also today unveiled a significant funding boost to defence, going beyond the two per cent year-on-year target set by North Atlantic Treaty Organisation, with £2.2 billion extra for the armed services.

Chancellor of the Exchequer Sajid Javid is set to commit a further £2bn in public spending to fund Brexit preparations, but risks accusations of losing control of the public purse strings.

He has some room to increase borrowing to fund his spending because Britain has steadily cut its budget deficit from nearly 10% of gross domestic product in 2010 to just over 1% now. "This party has never shied away from the hard decisions to live within our means".

Peterborough City Council has seen its government funding slashed and will have to make savings of around £25 million in next year's budget.

"Every single government department has had its budget for day-to-day spending increased at least in line with inflation".

The chancellor's spending review has merely placed a promissory note before the construction industry which must now await the outcome of events to find out whether it is worth anything or not, says Julian Francis.

The next spending review will be carried out in 2020 and further reviews on the government's fiscal framework will be set out in the Autumn Budget.

As political uncertainty continues to plague the United Kingdom ahead of the Brexit due date, the chancellor stressed the importance of focusing on "meeting the economic priorities of today, not a decade ago", he said in his speech to Parliament on Wednesday.

The chancellor said that, as he announced "spending plans for Britain's first year outside the European Union" the government is " turning the page on austerity and beginning a new decade of renewal".

- £90 million for 1,000 diplomats and overseas staff and upgraded missions to help "seize the opportunities of Brexit" around the world.

The Department for Digital, Culture, Media and Sport has been asked to develop proposals for a new Youth Investment Fund to get young people off the streets through improved and new youth centres. This represents a rise of 6.3% from £46.2bn past year to £49.1bn in 2020-21.

In his statement, Javid commended the Treasury civil servants for delivering "the fastest Spending Round in history".

However, Shadow Chancellor John McDonnell branded the spending spree as "a compendium of grubby electioneering" and said the Government was "pretending to end austerity when they do nothing of the sort".

"To come here and to try and fool us with references to people's priorities is beyond irony", McDonnell said.

Also responding to the chancellor, PCS general secretary Mark Serwotka said: "The money being promised by the chancellor is like sticking a plaster over a gaping wound".

"This is particularly highlighted by the office closure programme in HMRC where we are losing high levels of expertise at a time when we need investment to deal with any exit from the EU".

"It demonstrates that ministers are listening to our pleas for more money to meet a rising demand for services and that the lobbying we have done behind the scenes is paying off".



Like this

loading...
loading...

Latest


05 September 2019
Facebook Launches New Dating Service In The United States
The social network said it is also enabling the ability to integrate Instagram posts directly into your Facebook Dating profile. The feature is only available with the most recent version of Facebook and users must be 18 years or older to create a profile.

05 September 2019
Stars boycott South Africa over xenophobic attacks
Shops cautiously began to open again, as some residents sifted around in wrecked stores, rummaging for food and anything usable. Pandor says Nigeria needs to help address the belief that its countrymen are involved in criminal activities.

05 September 2019
Kevin Hart suffers three spinal fractures from vehicle crash
Laughter may be the best medicine, but the amount of "intense" pain Kevin Hart is in after his auto accident is not amusing . Kelly Clarkson's self-titled talk show has finally aired and her very first guest was meant to be Kevin Hart .

05 September 2019
IOS 13 Code Hints Apple Could Already Be Testing AR Glasses
Several sources have earlier claimed that the Cupertino-based tech giant is planning to release the Apple AR Glasses in 2020. The documentation also suggests that one of the augmented reality devices is being referred to by the codename "Garta".

05 September 2019
Meghan Markle, Penelope Cruz, Salma Hayek remember Peter Lindbergh
The Duchess of Sussex led tributes to the famed photographer, with their collaboration one of his last published works. He also photographed the royal for Vanity Fair in October 2017 when she starred in TV drama Suits .

05 September 2019
NRA 'domestic terrorists,' San Francisco leaders say in vote
The NRA responded by calling the resolution a stunt that was distracting from the city's myriad of social problems. Supervisor Stefani said she doesn't want this to end with this declaration.

05 September 2019
Miley Cyrus And Kaitlynn Carter's Relationship Is Getting Serious
A source close to the singer told PEOPLE , "They [Miley and Kaitlynn] live together and are very happy". Spencer disagrees, 'It's tough for me to listen to Kaitlynn complain about people talking about her'.

05 September 2019
Rajnath Singh receives Guard of Honour; India's national anthem in South Korea
In August, Rajnath Singh had sparked a debate over India's nuclear doctrine and the no first use policy. Apart from this, equal rights of access to maritime and airspace should be given.

05 September 2019
Rouhani rules out likelihood of 'direct' talks with US
Gibraltar seized and held the ship for weeks over concerns it was going to Syria despite European Union sanctions. Iran's President Hassan Rouhani speaks at parliament in the capital Tehran on September 3, 2019.

05 September 2019
Lonzo Ball Admits BBB Shoes Were Defective, They 'Exploded'
They were not ready", Ball admitted to Hart. "And it's insane because as soon as I switched my shoes, it's like magically I got good again".