The announcement means the three-year Comprehensive Spending Review - which was due to be delivered in the autumn - will now be shelved until late 2020 due to issues surrounding the UK's exit of the European Union, which is set to happen on 31 October.
Javid said the one-year spending round will ensure departments and devolved administrations have the financial certainty they need to deliver their plans on public services next year.
He said: "The Prime Minister and I have asked for a fast-tracked spending round for September to set departmental budgets for next year. This will clear the ground ahead of Brexit while delivering on people's priorities."
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