Rishi Sunak speech: What time is the Spending Review announcement today, November 25?

IT'S CRUNCH day for Rishi Sunak as he reveals his Spending Review while the national continues to grapple with the Covid pandemic.

The Chancellor, 40, aims to level up the country by creating jobs and boosting funding for the NHS – at the expense of public sector staff and private pensions.

What time is Rishi Sunak's speech today?

Rishi Sunak will reveal his spending plans just after Prime Minister’s Questions today, November 25.

The Chancellor is expected to start speaking between 12.30-12.45pm.

According to the Press Association, he is scheduled to present his spending review from the House of Commons from 12.35pm.

What is the Chancellor expected to announce?

Sunak, who has already pledged over £200billion to fight the Covid-19 crisis, will free up more cash today against the backdrop of the heaviest public borrowing since World War Two.

The Chancellor will announce extra investment to ease a backlog in the health system.

He'll also counter a surge in unemployment and build new infrastructure in his one-year Spending Review.

This may include details of how the £100billion National Infrastructure Strategy will be spent.

The fund has been set aside to fulfil Boris Johnson's election promise to "level up" the country through investments and improving infrastructure, such as transport links.

Sunak is also expected to make a decision on whether to extend the temporary boost to Universal Credit announced back in March.

Twenty pounds a week was added to the standard allowance to help low-income households through the crisis.

It means that for a single Universal Credit claimant, who's 25 or older, the standard allowance increased from £317.82 to £409.89 per month.

With Britain’s full exit from the European Union approaching on December 31 – and no new trade agreement yet secured – Sunak is likely to announce more spending on customs operations and possibly replacement subsidies for farmers.

But borrowing forecasts accompanying his blueprint are likely to dwarf the spending plans.

Sunak says now is not the time to rein in spending or raise taxes to address the deficit.

That's despite the Bank of England forecasting an 11 per cent slump in the economy.

Britain’s economy is set to go back into contraction in the last three months of the year, reports Reuters.

But Sunak is expected to explain his first moves to offset at least some of his spending by announcing a freeze on public sector pay and a reduction in Britain’s foreign aid budget.

Five million public sector workers could have their wages frozen to help pay for the pandemic, some reports have suggested.

In a newspaper interview at the weekend, the ex-Goldman Sachs analyst said he would start to “look forward” in the spring towards fixing the deficit, if vaccines and infection tracking turn the tide of the pandemic.

How Can I watch Rishi Sunak's speech live?

The Chancellor's Spending Review can be seen on TV – via both BBC News and Sky News.

It's also available via The Sun's Youtube and Sun Live Blog.

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