The Chancellor said that the economic outlook is improving but admits many people do not feel better off as she presented her spending review to the House of Commind
‘We are renewing Britain. I know that too many people in too many parts of our country are yet to feel it. The purpose of this spending review is to change that’ Rachel Reeves said
The Whitehall budget will grow by 1.5% a year with defence spending to rise to 2.6% of GDP by 2027, police spending to rise by 1.7% a year, and NHS spending to rise by 3% a year.
Reeves also set out £39bn for new affordable and social housing, a £30bn investment in nuclear energy and a £4.5bn boost for schools.
The Chancellor also promised to end the use of hotels to house asylum seekers by 2029.
The Shadow Chancellor Robert Jenrick said it wasn’t a spending review – it was a borrowing splurge.
“£200 billion extra borrowing over the next 5 years. Paid for by £105 billion in debt interest payments this year alone.”
Lib Dem Leader Ed Davy said “The NHS is in crisis. We support extra investment to help turn it around, but without fixing social care, no amount of funding will solve the problem.”
