Rishi Sunak set out his one-year Spending Review plans, which will come into force from April 2021, in Parliament earlier today.
In his speech to MPs, the Chancellor said the Government is spending £280 billion to get the country through the Covid-19 pandemic.
The Office for Budget Responsibility is forecasting that the UK economy will shrink by 11.3 per cent this year – the biggest fall in 300 years, he said.
Mr Sunak said it would take until the end of 2022 for the economy to return to its pre-pandemic size.
The Spending Review 2020 document said that the Government will invest ‘£44 million in funding for early years education in 2021-22 to increase the hourly rate paid to childcare providers for the government’s free hours offers’.
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