Cliff Notes
- Chancellor Rachel Reeves is set to announce a multi-billion-pound spending review aimed at improving security, health, and economic conditions for communities across the UK, particularly outside London and the South East.
- Key investments include a £15.6 billion local transport infrastructure plan, an £86 billion boost for science and technology, and a £39 billion Affordable Homes Programme over the next decade.
- Opposition critiques describe the spending review as unsustainable, labelling it a “spend today, tax tomorrow” approach lacking a credible financial plan.
Chancellor Rachel Reeves to invest ‘billions’ at spending review as voters ‘yet to feel’ benefits of Labour government
Chancellor Rachel Reeves will set out plans in the spending review on Wednesday to invest billions of pounds across Britain, as she admits “too many people” are “yet to feel” the benefits of the government’s work so far.
In a statement in the House of Commons, the chancellor will vow to spend vast sums of money across the country to “ensure that renewal is felt in people’s everyday lives, their jobs, their communities”.
As well as confirming the budgets for each government department for the next three years, the Treasury says Ms Reeves will announce plans to invest billions in security, health, and the Economy more broadly.
The chancellor will set out “reforms that will guarantee towns and cities outside London and the South East can benefit from new investment”, the department said.
Ms Reeves is expected to say: “This government is renewing Britain. But I know too many people in too many parts of the country are yet to feel it.
“This government’s task – my task – and the purpose of this spending review – is to change that. To ensure that renewal is felt in people’s everyday lives, their jobs, their communities. So that people can see a doctor when they need one. Know that they are secure at work. And feel safe on their local high street.
“The priorities in this spending review are the priorities of working people. To invest in our country’s security, health and economy so working people all over our country are better off.”
Ms Reeves will also formally confirm “the biggest ever local transport infrastructure investment in England’s city regions”, worth £15.6bn, as well as £86bn to “boost science and technology”, including by building the Sizewell C nuclear power station.
She will also announce the extension of the £3 cap on bus fares, Sky News understands. The cap – which Labour lifted from £2 – was due to expire at the end of this year.
And £39bn for a new Affordable Homes Programme over the next 10 years is also expected to be announced, as the government seeks to ramp up housebuilding to hit its manifesto pledge of building 1.5 million new homes by the end of this parliament.
Sources
Spending Review 2025: Reeves expected to boost NHS and defence budgets as other services face cuts – BBC
Rachel Reeves to unveils £39bn housing boost in spending review shake-up – The Guardian
Spending review latest: Reeves to announce £39bn affordable homes plan to ‘turn the tide on housing crisis’ – The Independent