RE: UK Employment data tues...Reeves spending review Wed.....11 Jun 2025 13:05
Watch out for 'spun' numbers
published at 12:34
12:34
By Andy Verity
As we start to hear Spending Review announcements, don’t be overly impressed by the "billions".
In a decades-long tradition, when chancellors want to play up what they’re spending, they’ll give you a bald total - such as £39bn for affordable and social housing, announced earlier. But then there’s the crucial qualifier "over 10 years".
So divide it by 10 - that's £3.9 billion a year.
Then remember the total amount the government spends each year - in 2025/26 it’s officially forecast to be £1,347bn.
As a proportion of that, the additional money for social housing would boost total spending by less than 0.3%. Or as a proportion of the economy, about 0.15%.
Not nothing - but neither is it the vast boost that the headline figure might at first suggest.