July 21, 2020 / 8:54 AM / 15 days ago

UK's Sunak launches comprehensive review of government spending

FILE PHOTO: Newly appointed Britain's Chancellor of the Exchequer Rishi Sunak arrives at the Treasury in London, Britain, February 13, 2020. REUTERS/Peter Nicholls

LONDON (Reuters) - British finance minister Rishi Sunak on Tuesday launched a comprehensive review of government spending for the coming years.

The review will set resource budgets for government departments from the 2021/22 financial year through to 2023/24, as well as for capital spending until 2024/25, the finance ministry said in a statement.

The budgets will grow in real terms over the spending review period, the finance ministry said.

“We will honour the commitments made in the March Budget to rebuild, level up and invest in people and places spreading opportunities more evenly across the nation,” Sunak said.

The finance ministry said the date for the end of the review will be confirmed in due course.

(This story corrects after finance ministry changes reference to above-inflation increase in budget)

Reporting by Andy Bruce; Editing by Alistair Smout

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