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UK ministries should get five-year budgets to ensure stability, think-tank says

Labour government needs to reform spending review process if it wants to reach its mission targets, IfG warns

The UK government should set out spending plans five years in advance to help restore stability to public expenditure, a think-tank has urged.

The Institute for Government warned on Thursday that the new Labour administration could fail to deliver its five missions for government unless it reforms the spending review process and stretches it to cover a longer timeframe.

The recommendation follows a fierce row between chancellor Rachel Reeves and her Tory predecessor Jeremy Hunt over a £22bn fiscal hole Reeves claims she inherited from the last Conservative administration.

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