英国国家经济和社会研究所-对全面支出审查的回应（英）

Response to the Comprehensive Spending Review 11 June 2025 Contents Contents ......................................................................................................................................................................... 2 Introduction .................................................................................................................................................................. 3 Implications for the Economy ................................................................................................................................. 4 Implications for regions and sectors ................................................................................................................ 4 Implications for households and living standards ....................................................................................... 5 Conclusion ..................................................................................................................................................................... 6 References..................................................................................................................................................................... 6 3 Introduction Today the Chancellor delivered the Comprehensive Spending Review – the most far-reaching multiyear spending review in a decade. While this is not a budget, as there are no changes to tax policy, the allocation of spending is crucial as it sets the tone for the Autumn Budget in October. The United Kingdom finds itself in a challenging position on account of low growth, above target inflation and limited fiscal space. Ensuring that spending is allocated to maximise economic growth is more vital than ever if the government is to address pressing issues such as living standards, the green transition, and stagnant productivity in every part of the United Kingdom. Given the distortive effects of the recent rise in employer National Insurance Contributions (NICs), it is even more important that the Chancellor squeezes as much economic value as possible from every penny spent. In addition, one aspect of the Chancellor’s statement which did not receive as much attention as expected was the reference to the ‘zero based’ spending review. In December of last year, the government pledged that ‘every pound of government spending to be interrogated to ensure it represents value for money for working people’. While drives to reduce inefficiency and waste are welcome to help fund key public services, a lack of concrete numbers on where these savings have been reinvested undermines the credibility of the spending review truly being ‘zero based’. Against a backdrop of high borrowing costs, signaling where savings have been made must play a crucial role in building fiscal credibility against the Chancellor’s plans. Headline figures for departmental spending vary significantly. In this reaction document we explore some of the impl