Rishi Sunak to outline plans to balance the books in Autumn budget next month

7 September 2021, 13:52 | Updated: 7 September 2021, 14:06

Rishi Sunak will deliver his Autumn budget on October 27.
Rishi Sunak will deliver his Autumn budget on October 27. Picture: Alamy

By Sophie Barnett

Rishi Sunak has named October 27 as the date for the three-year Spending Review, as well as his Autumn Budget.

The Budget and Spending Review will see the Chancellor set out how he plans to balance the books following a number of difficult decisions on how to repair the economy following the Covid pandemic.

The date was announced during the Prime Minister's address to the Commons on Tuesday, where he confirmed controversial plans to increase National Insurance by 1.25%.

Read more: PM announces 'more you earn, more you pay' amid 1.25% social care tax hike

Read more: PM admits controversial social care tax hike 'breaks manifesto commitment'

Mr Sunak said: "Since the start of the pandemic, we’ve delivered on an unprecedented scale to protect people’s jobs and livelihoods.

"Despite the worst economic recession in 300 years, we have not only got people back into work through the Plan for Jobs but continued to deliver on the priorities of the British people.

“At the Spending Review later this year, I will set out how we will continue to invest in public services and drive growth while keeping the public finances on a sustainable path.”

This story is being updated