Treasury written question – answered at on 12 March 2025.
Richard Fuller
Shadow Chief Secretary to the Treasury
To ask the Chancellor of the exchequer, if she will make an assessment of the potential merits of introducing structural changes to efficiency oversight as part of the 2025 Spending Review.
Darren Jones
The Chief Secretary to the Treasury
This government is committed to spending taxpayers’ money efficiently. At the first phase of the Spending Review for 2025-26 it set a 2% target for efficiency, productivity and savings for all departments.
Phase 2 of the Spending Review (2026-2029) goes further with departments undertaking a line-by-line review of existing day-to-day budgets for the first time in 17 years. Departments are expected to identify a minimum of 5% savings and efficiencies against their current budgets freeing up funding to achieve the government’s priorities.
The Office for Value for Money is also advising the Chancellor and me on decisions for the Spending Review, which will include conducting an assessment of where and how to root out waste and inefficiency.
The government will set out its plans on efficiencies at the conclusion of the Spending Review.
Yes2 people think so
No2 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
