Quick Guide: The Budget
Printable version
The Treasury's role

The Pre-Budget Report

The Budget statement

Budget deficits and the golden rule

The Spending Review

The Spending Review

Every two years, the government carries out a spending review, outlining how it plans to spend its tax revenue.

Reviews normally take place every second summer, although they allocate money for the next three years.

Spending departments bid for money from the Treasury, which sets performance targets in return.

However, about half the government's budget cannot be fixed in advance - only annually. This includes benefit payments and national debt interest.