Today, we’re setting the stage for a key moment in UK politics — the upcoming spending review, expected this November. The spending review will set some £600 billion of departmental budgets from April 2025 onwards, and will be a crucial moment for the next government to lay out its priorities and plans for public services.

How should the incoming government go about doing the next spending review? How can the government make sure they deliver on their priorities? And will they be constrained by socalled ‘treasury orthodoxy’?

To help us answer these questions, we're joined by two people who have been at the heart of government David Gauke, a lawyer and former MP who served in the Treasury under David Cameron and Theresa May’s governments and Giles Wilkes, a senior fellow at the Institute for Government and former special adviser to Theresa May and Vince Cable.

Find out more: https://ifs.org.uk/articles/ps600bil...

00:00 Introduction
4:50 What is a Spending Review?
11:16 How cuts are managed?
13:35 The politics of Spending Reviews
20:46 The role of political capital
24:55 The postelection Spending Review
35:08 With 2010 Spending Review
36:48 The role of the fiscal rules
40:12 The size of government debt
42:41 How does budget get spent?
47:20 What should the next Chancellor do?
50:26 Conclusion