13:55 And that's it from me. CFG will be preparing our briefing on all the relevant announcements for members by the end of the day. Including a summary of all the key announcements and analysis that relates to the sector.
13:50: While the shadow chancellor makes his response, still worth bearing in mind that if there is a no-deal, the corresponding economic slowdown would likely result in another round of austerity.
13:41 Big announcement. Chancellor announces no department will be cut in real terms next year. The fiscal rules really have been thrown out the window. But it is worth bearing in mind that many departments will still have lower budgets than they did 10 years ago. Even with additional funding for local government, not nearly enough to undo the long-term cuts that have occurred since 2010.
13:40 International Aid budget has been protected (0.7% of GNI)
13:33 £1.2bn for Scotland, £600m for Wales and £400m for Norther Ireland
13:25 Flurry of major announcements:
- Councils will have access to £1.5bn social care funding, on top of £2.5bn existing social care grants
- Real terms increase of 13% for homelessness funding
- Increasing school spending by £7.1bn by 2022-23
- £432m of funding for DEFRA
- As previously announced an extra £6.2 increase in NHS funding, £2bn of new capital funding.
- 5% increase in resource spend for MoJ, and an extra £620m for capital spend.
13:20 As expected, 6.3% increase in Home Office spend to hire 20,000 more officers, which would take it back to 2010 levels.
13:19 As part of the additional £13.8bn An additional £1.7bn added to capital spending.
13:15 More investment in infrastructure described as 'an infrastructure revolution', but will require credible delivery plans, and will target regional growth and low carbon infrastructure.
13:13 With a strong fiscal position and low interest rates, more borrowing in the short term, and ahead of the budget he will review the fiscal framework. So long Osborne's 'long term economic plan'.
13:07 Normality has resumed, the chancellor has announced an additional £13.8bn of spending.
13:05- Perhaps eventually the chancellor will begin the spending round... numerous interventions from the speaker
13:00- Not only has Brexit dominated headlines, but also the Spending Review. An additional £2bn for Brexit preparations, including more support for business readiness. Important that voluntary organisations are not excluded from these funds. CFG alongside other charity infrastructure bodies, has written to the chancellor insisting on this.
12:59- Chancellor announces fastest increase in spending in 15 years
12:57- And we're off...
12:50- Prior to the chancellor's statement, this analysis by the IFS is worth reading- "More than 70% of these day-to-day spending totals are “protected” or have been largely determined by announcements prior to the spending review" https://www.ifs.org.uk/publications/14347
12:30- PMQs drawing to an end and the chancellor getting ready to make a statement on the Spending Round 2019. Watch this space for more information...
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