Rachel Reeves spending review: When will the Chancellor announce the plans? What is a spending review?

The Chancellor will unveil the government’s day-to-day spending commitments up to 2028-29, as well as the investment spending plans to 2029-30.

As such, the allocations will define not just the impact on Scots lives for the rest of this Parliament, but also shape Labour’s chances of being re-elected, as well as their prospects in Holyrood.

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What is a spending review?

Spending reviews occur every few years and is the process the government uses to set all departments’ budgets for future years. This covers both the services the public uses every day, like the NHS, schools and transport, and also how the government will invest in areas such research, energy security and infrastructure to drive economic growth across the country.

They account for 40 per cent of all public spending. The previous multi-year spending review took place in 2021 under Boris Johnson’s Conservative administration.

What time will Rachel Reeves announce the Spending Review?

The Chancellor will stand up in the House of Commons on Wednesday, June 11 after Prime Minister’s Questions, at roughly 12.30pm.

Once Ms Reeves has finished speaking, the review will be published on the UK government website, along with any accompanying documents.

Forecasters will outline their response shortly after.

What is likely to be included?

Scottish pensioners now face being worse off than those in England and Wales after the UK government confirmed its U-turn over winter fuel payment cuts.

The Chancellor announced on Monday an increase to the payment, worth up to £300 for each recipient. However, Scotland has already created a devolved benefit of £100 for all pensioner households, with only those on pension credit receiving up to £300. The devolved policy will potentially leave hundreds of thousands of Scots worse off than their English and Welsh counterparts.

The UK government has also confirmed it will commit to a multi-decade, multi-billion redevelopment of HMNB Clyde, An initial £250 million in funding has been allocated to the Faslane base - the home of Trident nuclear weapons - over three years. There is also an expectation the Chancellor will finally sign off on the Acorn project.

More broadly, other departments will see increases in funding, which will lead to more money for Scotland.