Spending Review 2025: Positive Money response

Sara Hall, Co-Executive Director of research and campaign group Positive Money, said:

“Much focus today will be on which departments are the winners and losers in the spending review, but it didn’t have to be this way.

“A failure to tax wealth and windfall profits, coupled with restrictive fiscal rules, has deprived the public of tens of billions that could have been directed to schools, courts and councils.

“Britain’s biggest banks have made record profits during a cost of living crisis through no actions of their own - they’re simply the sole winners of interest rate increases. The government should raise taxes on this sector in the next Autumn Budget, to reverse the damaging cuts announced to vital public services today.”

Notes:

• The BBC reports that "over the next three years, Home Office funding is down 1.7% a year, the Foreign Office loses 6.9% a year, mainly in aid spending, the Department for Transport loses 5% a year, Environment and Rural Affairs loses 2.7%, and Business and Trade loses 1.8%": https://www.bbc.co.uk/news/articles/czdyzrm99g2o

About Positive Money:

Positive Money is an international research and campaign organisation working to redesign our economic system for social justice and a liveable planet. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of supporters. Find out more: www.positivemoney.org