23 OCT 2024
Pre Budget Briefing from the Housing & Finance Institute
What to look out for in the first Budget of the new Government
On 30 October 2024 the first Budget of the new Government since the general election will be delivered.
Budget watch: what is the Budget likely to cover?
The Institute for Fiscal Studies (IFS) has pointed out that the Autumn Budget covers two different structural budget matters- the Spending Review and the Spending Envelope:
- The 2024-2026 Spending Reviews: These are the detailed departmental spending allocations for next year (2025/26) together with adjusted allocations for the current year (2024/25).
- The Remaining Parliament Spending Envelope: This is a broader brush indicator of the government's priorities and the departmental 'winners and losers' for remainder of the Parliament (2026/27 onwards).
- The Spending Envelope will be converted into three year Spending Review in the Spring Budget 2025. This is intended to be refreshed and reviewed on a bi-annual basis.
The Budget takes effect against a backdrop of high political ambitions coming out of the recent general election but highly constrained public finances.
Download the HFi's Pre Autumn Budget Briefing here: HFI Pre Budget briefing
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