Coronavirus: One-year spending review looms as public debt hits 103.5% of GDP

Industry News | 21/10/20

A one-year spending review has been announced by the Treasury to “focus entirely” on tackling the coronavirus crisis – as official figures show borrowing records continue to be smashed.

The government said it would have liked to outline spending plans for the rest of the current parliament, as it had originally intended.

But a statement on the U-turn said the chancellor and prime minister had decided on a more targeted approach given the renewed threat from the pandemic, which has forced tougher restrictions on large swathes of the country and sparked bitter rows with local leaders over levels of government support.

Source: Sky News