We have just published the EEF Spending Review - 2015-16 Submission

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This summer’s Spending Review will be allocating spending for the fiscal year 2015/16

In context of continued on-going challenges and the prospect of continuing austerity over the next Parliament, it is important that the Spending Review:

  • Allocates resources towards areas that will be best support growth;
  • Sets out clearly how the government will approach localism;
  • Provides clarity to business over the government’s medium-term priorities.

Our submission sets out our views on all three areas. The basis for our submissions is our Route to Growth framework and our four Growth Ambitions – More Companies Bringing Products and Services to Markets; More Globally Focused Companies Expanding in the UK; A Lower of Cost Doing Business and A More Productive and Flexible Workforce.

Though our submission is set within the context of the government’s approach to fiscal consolidation and this summer’s Spending Review, it also analyses the challenges created by the current path of fiscal consolidation and the government’s approach to ring-fencing in the 2015/16 Spending Round.

Decisions taken in this Spending Review will have consequences beyond this Parliament so the long-term implications for the UK economy need to be made clear. The budget cuts that departments will need to make in 2015/16 will affect their ability to achieve their growth outcomes beyond that one year. It is therefore vital that the forthcoming Spending Review is based on an approach that allows the government to use the full limits of its fiscal framework to support growth.

Author

Chief Economist

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