How often is a Spending Review carried out?

The UK Spending Review is typically carried out every couple of years and looks at how the government is planning to spend its money over a 2-3 year period.

Three areas of spending that could impact you:

1. Housing

£39 billion will be invested in affordable and social housing over the next 10 years to increase housing availability for low-income households.

The goal is to help meet the target of building 1.5 million new homes by 2030.

2. Potential benefit for Parents

Free School Meals will be expanded from September 2026:

All primary school children in London and Wales can currently access free meals. All children in the first five years of primary school are eligible in Scotland.

Any child in England whose parents receive universal credit will be able to claim free school meals from September 2026.

3. Local Improvements and Council Tax

Funding will be provided for community renewal projects, such as parks, libraries, youth centres, and swimming pools in 350 areas.

However, council tax is expected to rise to help fund improved local authority services, including social care and basic services like waste collection.

There will also be additional support for the NHS and Schools.

Remember, CreditLadder can help you improve your credit score.

CreditLadder can improve your credit position by reporting your rent payments. CreditLadder is the first way to improve your credit score and position across all three of the main Credit Reference Agencies in the UK, namely Experian, Equifax and TransUnion. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money. CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.

Remember the content provided in this article is for information purposes only and should not be considered as advice.