UK's Burnham Weighs Merging Budget, Spending Review

Andy Burnham, the UK's presumptive next prime minister, is considering merging the annual budget with the departmental spending review this autumn, a move that would let him set spending priorities faster. Treasury officials have held preliminary talks with Burnham's team about the plan, the Financial Times reported Sunday.

The two events are normally held separately. In her first budget in 2024, Chancellor Rachel Reeves chose to set departmental budgets a year ahead to boost education and health funding. Combining them would allow Burnham to channel 3.5% of economic output toward defense, something he has promised to increase. It would also pile pressure on his would-be chancellor to produce an expanded document in mere months as spending pressures remain uncertain.

Burnham is on course to take over from Keir Starmer on July 20. Little is known of his policies, prompting would-be advisers and ministers to jockey for jobs and ideas. One idea under discussion includes a land tax and a more ambitious devolution strategy. Another pushes public control of utilities.