The Chancellor presented the government’s Spending Review on 20 October 2010, which fixes spending budgets for each Government department up to 2014-15.
The Chancellor, George Osborne, presented the government’s Spending Review on 20 October 2010.
The Spending Review comes at a time when the state is spending significantly more money than it raises in taxation, and is having to meet the gap – called the deficit – by borrowing at record levels.
Last year, the government borrowed one pound in every four that it spent; and the interest payments on the nation’s public debt each year are more than the government spends on schools in England.
There’s more information available about the Spending Review via the National Archives website.