Wednesday 11th June marks the Labour Government’s first multi-year Spending Review, and the first since Boris Johnson’s Conservative Government in 2021– three Prime Ministers ago. 

Across all policy areas, it'll frame the government's programme for the rest of this Parliament and shape the record it has to defend at the next election. Lansons' Spending Review Speculation Document collates all speculated and confirmed policies set to be announced tomorrow.

It is already clear that the ‘winners’ of tomorrow will be health and defence, whose budgets were not only ringfenced but increased by £30 billion by 2028 for the NHS and to 2.5% of GDP by 2027 for defence spending. Elsewhere, large funding packages have been promised for schools, prisons and policing – and particularly on infrastructure.

These choices, however, come at a cost. It is rumoured that the government’s post-Brexit farming fund could face cuts – to the frustration of a group of voters who are already exasperated by the inheritance tax changes on agricultural assets. Meanwhile, the FCDO’s aid budget has already been reduced from 0.5% of GDP to 0.3% and the department also faces potential cuts of up to 25% of senior staff and a stripped back BBC World Service.

Crucially, the plans announced at the Spending Review tomorrow will be used by the Office for Budget Responsibility as part of its assessment of whether the government is on track to meet its fiscal targets ahead of the next fiscal statement: the 2025 Autumn Budget.

The Chancellor is working within razor fine margins – any miscalculation could prove costly not only for the government’s reputation but also to the taxpayer if further tax rises are needed in the Autumn to fund its commitments tomorrow.

So what do you need to know?

Our Speculation Document outlines the confirmed and speculated measures in such policy areas as:

• Welfare
• Infrastructure
• Defence, Security and Foreign Policy
• Health and Technology
• Environment