Autumn budget 2024 response
The Chancellor has delivered a one-year budget setting out both an updated 2024/25 spend and next year’s planned funding. It is then intended that a longer-term Spending Review will follow in late spring.
Health and Social Care
- There was a £22 billion increase in total health and social care revenue and capital funding as part of a two phased spending review
- Health and social care capital budget will increase by 9.8% and 12.1% (or £3.1 billion overall) this year and next
- Change in fiscal rules to allow more borrowing to invest which could provide up to £50 billion in coming years to allow for potential higher capital budgets
- All departments are subject to a 2% efficiency, productivity and savings target in 2025/26
Education
- There was an overall £2.3bn increase to the core school budget representing a real terms increase in per pupil funding
- This Includes an additional £1bn for Special Educational Needs and Disabilities (SEND) and Alternative Provision (AP) though it is not yet clear how much of this will be allocated to much need additional places or improved facilities
- Spending on early years and family services will increase to over £8bn to ensure all children get the best start in life
- The overall settlement includes £6.7bn of capital investment a 19% increase from 2024-25
