Self-Supervised Learning (SSL) excels at learning generic representations of acoustic signals, yet prevailing methods remain domain-specific, tailored to either speech or general audio, hindering the development of a unified representation model with a comprehensive capability over both domains. To address this, we present SPEAR (SPEech and Audio Representations), the first SSL framework to successfully learn unified speech and audio representations from a mixture of speech and audio data. SPEAR proposes a unified pre-training objective based on masked prediction of fine-grained discrete tokens for both speech and general audio. These tokens are derived from continuous speech and audio representations using a Multi-codebook Vector Quantisation (MVQ) method, retaining rich acoustic detail essential for modelling both speech and complex audio events. SPEAR is applied to pre-train both single-domain and unified speech-and-audio SSL models. Our speech-domain model establishes a new state-of-the-art on the SUPERB benchmark, a speech processing benchmark for SSL models, matching or surpassing the highly competitive WavLM Large on 12 out of 15 tasks with the same pre-training corpora and a similar model size. Crucially, our unified model learns complementary features and demonstrates comprehensive capabilities across two major benchmarks, SUPERB and HEAR, for evaluating audio representations. By further scaling up the model size and pre-training data, we present a unified model with 600M parameters that excels in both domains, establishing it as one of the most powerful and versatile open-source SSL models for auditory understanding. The inference code and pre-trained models will be made publicly available.