Treasury to set out long-term spending plans
The chief secretary to the Treasury has said the government will make spending commitments for the rest of the decade in next month’s spending review.
Although the review will only set departmental budgets for 2015/16, Danny Alexander said longer term plans would be unveiled for ‘key areas of capital expenditure’.
Addressing the Greater Manchester Chamber of Commerce last night, he said the government recognises the need to invest in infrastructure, suggesting further support for construction could be included in the spending review.
Inside Housing has today launched a campaign calling for the government to promise long-term subsidy for affordable housing in the spending review. The Grant Britain Homes campaign argues such investment would not only boost the housing sector, but also contribute to the wider economic recovery.
Mr Alexander said the spending review will also set out details of a ‘single local growth fund’. This was suggested by a review written by Conservative peer Lord Heseltine, and will bring together investment in housing, transport and skills into a single pot.
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