The Treasury will conduct a zero-based review of capital at the next Spending Review. It will include an assessment panel of Chief Economists from across government departments, who will provide technical assistance and expertise to Treasury officials scrutinising capital spending bids. These top economists will bring significant experience and expertise in appraising investment in many different sectors, covering economic and social infrastructure. The panel will also draw on the IPA, and functional expertise built up since 2015.
The assessment panel will be formed ahead of the Spending Review.