Today, we’re setting the stage for a key moment in UK politics — the upcoming spending review, expected this November. The spending review will set some £600 billion of departmental budgets from April 2025 onwards, and will be a crucial moment for the next government to lay out its priorities and plans for public services.

How should the incoming government go about doing the next spending review? How can the government make sure they deliver on their priorities? And will they be constrained by the much talked about ‘treasury orthodoxy’?

To help us answer these questions, we're joined by two people who have been at the heart of government - David Gauke, a lawyer and former MP who served in the Treasury under David Cameron and Theresa May’s governments and Giles Wilkes, a senior fellow at the Institute for Government and former special adviser to Theresa May and Vince Cable.

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We often hear about government debt in the headlines. Currently the UK government owes around £2.65 trillion, nearly 100% of UK GDP - the value of all the goods and services produced in the UK in a year.

How has the debt level grown? Should we aspire to reduce the debt? And do we need to worry about high debt to GDP ratios?

Joining us today to answer all these questions and more, is David Miles, Professor of Financial Economics at Imperial College Business School, a member of the OBR Budget Responsibility Committee and former member of the Monetary Policy Committee at the Bank of England.

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In his Spring Budget, the Chancellor announced a 2% cut to National Insurance, amidst other measures on tax and spending.

What will the impact of the measures be? How will it affect living standards? And what choices face the next Parliament?

Joining us today are Helen Miller, Deputy Director at IFS and Ben Zaranko, Senior Research Economist at IFS.

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