ThinkTent2021: Rishi’s reality check ahead of Spending Review
- When asked how much Net Zero will cost, Sunak said: “You can’t put a figure on it”, and that “you can’t spend your way to Net Zero”, but regulation, behavioural change, and technology will all play their part.
- On raising National Insurance contributions to fund the NHS and social care, Sunak said: “We need to hold the NHS to account to ensure money is well spent… it is important we strive that every penny is spent well”. The Chancellor added: “We can’t just keep measuring success by how much money we spend”.
- On the public finances, Sunak acknowledged that: “our best protection against future threats, whether it’s interest rates or another crisis like coronavirus, is just to have fiscal headroom” and that he wants to “leave a legacy” of fiscal responsibility to the next Chancellor.
You can watch back a full recording here on the IEA YouTube channel.
Notes to editors
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You can watch a full recording of the event on the IEA YouTube channel here.
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