[London 4th Reuters]-British Finance Minister Javid announced the spending plan for 2020/21 on the 4th and plans to increase spending in “priority for the public” areas such as education, medical care and police. The parliamentary speech of the same phase is scheduled around 1200 GMT.
Prime Minister Johnson stresses that it will be the most ambitious spending plan in the past decade, but Javid's finance minister has shown a policy of complying with the previous government's fiscal discipline.
The finance minister wrote last week in a contribution to the British Daily Telegraph: “Thanks to the efforts of the British people over the last decade, we can expand spending in the priority areas of the public without breaking the rules on spending. Increase spending in some major sectors such as hospitals and police. "
The UK budget deficit, which reached about 10% of gross domestic product (GDP) in 2010, has shrunk to just over 1%, and there is room for government borrowing.