Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
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The UK government will conduct its first zero based spending review in 17 years, requiring departments to meet a 5% savings target for Treasury funding.
LONDON (Reuters) - Britain's deputy finance minister Darren Jones said on Tuesday the government would conduct the first zero based review of spending in 17 years.
Financial support will only be made available to departments that have met requirements set out in the zero based government spending review, Jones said.
"Funding from the Treasury to support new priorities will only be made available to departments that have first fulfilled the requirements of our zero based review and met the minimum 5% savings and efficiency target required in this spending review process," Jones said in a keynote speech at the Institute for Government's annual conference.
"We will no longer just negotiate what top ups to existing budgets departments will get, but we will scrutinise and challenge every pound of existing budgets first," he added.
(Reporting by Suban Abdulla; Editing by Catarina Demony)
The main topic is the UK government's zero based spending review announced by deputy finance minister Darren Jones.
A zero based review is a budgeting process where all expenses must be justified for each new period, starting from a 'zero base'.
The spending review was announced by Britain's deputy finance minister Darren Jones.
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