Rachel Reeves has set out her spending plans for the coming years in the Commons, announcing boosts for the NHS, defence and schools.
The Chancellor’s spending review laid out day-to-day and capital spending plans and included £39 billion over the next 10 years to build affordable and social housing.
Reeves laid out her plans for “securonomics” and said an extra £29 billion will be provided per year for the NHS. Major investment was also announced for nuclear energy and regional transport projects.
The government also said it would take forward plans for Northern Powerhouse Rail in the coming weeks, alongside an additional £3.5 billion to upgrade the TransPennine route.
A new four-year settlement was also announced for Transport for London but Sir Sadiq Khan said it was “disappointing” that there had been no commitment from the Treasury “to invest in new infrastructure London needs”.
There were only a handful of references to London throughout the Chancellor’s speech.
Reeves’ room for manoeuvre has also been further constrained by the Government's U-turn on winter fuel payments, which will see the benefit paid to pensioners receiving up to £35,000 per year at a cost of around £1.25 billion to the Treasury.
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Key Points
- The Department for Health key winner as Rachel Reeves announces 'record' investment in the NHS
- The Chancellor also announced the bigget cash injection into social and affordable housing in 50 years
- Major investments were also announced in public transport projects across England's city regions, including £3.5 billion to upgrade the TransPennine route
- Sir Sadiq Khan saying it was 'disappointing' that there was no commitment for 'new infrastructure London needs'
- Meanwhile, London businesses have said the capital has been left 'short-changed' with lack of certainty around shovel-ready rail projects 'baffling'
- But leading experts have also warned that tax rises could be on the way 'if anything at all goes wrong' with Reeves' economic plans
Chancellor fails to rule out autumn tax hikes
17:45 , Bill BowkettRachel Reeves has not ruled out tax rises in her next autumn budget.
Asked if she could rule out taxes going up again later this year, the Chancellor told GB News: “Every penny of this is funded through the tax increases and the changes to the fiscal rules that we set out at last autumn.
“We’re not spending a penny more or a penny less than the envelope that we set last autumn.
“So all of this is fully funded. I said at the budget last year, and I repeated again in the spring statement in March, that public services now needed to live within the envelope that we have set.
That has meant difficult conversations, it has meant difficult decisions, but we’ve stuck to that spending envelope that we set out in the budget last year.”
Chancellor hints 5 per cent council tax hikes every year
17:40 , Bill Bowkett“The previous government increased council tax by five per cent a year, and we have stuck to that,” Rachel Reeves told ITV. “We won’t be going above that.
“That is the council tax policy that we inherited from the previous government, and that we will be continuing. And of course, that money goes into those local public services, including social care, and in case of the police precept, it goes into our local policing.”
Reform: Reeves of 'cratering' confidence in economy
17:37 , Bill BowkettThe Chancellor is cratering public mood, economy and jobs.
— Richard Tice MP 🇬🇧 (@TiceRichard) June 11, 2025
Borrowing is soaring, debt costs are rising and wasteful spending is out of control.
Reform by contrast are already saving tens of millions in the councils we now run
Another reason we are leading in national polls pic.twitter.com/adBIJw9j62
Spending review ‘all about state control’
17:14 , Bill BowkettEwen Stewart, a member of Growth Commission, which was founded by former Tory prime minister Liz Truss, said: “Today’s Spending Review shows scant evidence that the Chancellor understands how sustainable growth is achieved. It focused on centralised spending rather than seeking to grow the cake.
“There was nothing to encourage private endeavour and no rolling back of regulation, at a time when the Government is saddling the country with more employment regulation without any sign of an improvement in public sector productivity.
“It was all about state control and direction, which will do nothing to strengthen the weak edifice that is the UK economy.”
Cuts to Foreign Office budget 'alarming'
17:11 , Bill BowkettDame Emily Thornberry, Labour MP and chair of the foreign affairs committee, said she is “deeply concerned” about cuts to the Foreign Office’s budget.
It is due to fall by 8.3 per cent between 2025/26 and 2028/29.
She said: “At a time when Britain is back on the world stage, and has never been more needed as a force for good, it is very concerning that the FCDO appears to be suffering the harshest real-terms cuts. We will be looking very closely at this to make sure that, once the already-announced ODA cuts have been accounted for, the Foreign Office is not suffering major further cutbacks.
“The Foreign Office maintains a presence across the globe and does so with a budget that has been stretched thin over many years. I am deeply concerned about the strain that this spending review will place on the entirety of the department. Real-term cuts to the Foreign Office budget are alarming and inconsistent with the government’s objective to position the UK as a leader on the world stage.”
Tax rise fears 'incoherent', Treasury minister claims
17:09 , Bill Bowkett
Asked whether the measures announced by the Chancellor’s spending review will lead to tax rises in the autumn, Darren Jones, the chief secretary to the Treasury, told Sky News: “It’s just such an incoherent argument, and let me tell you why.
“This spending review is allocating the money that we have already raised at the budget last year and the spring statement. We are essentially dishing out the budget to the departments, and it is living within the budget settlement that the chancellor set.
“If that’s the best argument that the oppositon has got, I think they need to go back and do some more homework.”
Jenrick: Labour ‘bankrupting Britain’
17:06 , Bill BowkettThat wasn’t a spending review - it was a borrowing splurge.
— Robert Jenrick (@RobertJenrick) June 11, 2025
*£200 billion* extra borrowing over the next 5 years. Paid for by £105 billion in debt interest payments this year alone.
Labour is bankrupting Britain. pic.twitter.com/D6ZUV9WfHc
Tax rises 'all but inevitable'
17:04 , Bill BowkettTax rises are “all but inevitable” following the Chancellor’s spending review, the Institute of Chartered Accountants in England and Wales has claimed.
Alison Ring, its director of public sector and taxation, said: “Tax rises are now all but inevitable following the Chancellor’s decision to significantly bolster defence and health spending, no matter what measures are taken between now and the Autumn Budget,” she said.
“The government’s sticking plaster strategy remains an obstacle to addressing the deep-set challenges facing the country. Instead, we need a clear, long-term plan to fix and futureproof the UK’s balance sheet, and without this there is little hope of achieving the transformative change needed to propel the country forward.
“While investment in infrastructure projects is a positive move, overall transformative investment is relatively small which reflects the Chancellor’s lack of wriggle room.”
London loses in Rachel Reeves' Spending Review despite bumper deal for TfL and HS2 funding
16:50 , Alastair LockhartTfL will receive its "largest multi-year settlement in over a decade", Rachel Reeves has said as she faces a growing row with City Hall over deteriorating funding for the Metropolitan Police and infrastructure projects.
London’s transport network will get £2.2bn over the next five year for its capital renewals programme, the Chancellor confirmed in her Spending Review on Wednesday.
The Treasury also revealed that £25.3bn would be provided to help deliver the controversial HS2 from Birmingham Curzon Street to London Euston.
However, Sir Sadiq Khan said he was “concerned” that Britain’s largest police force could be left with fewer officers because of squeezed budgets.
Sadiq Khan says Reeves' spending review is 'disappointing'
15:59 , Alastair LockhartSadiq Khan has said the Government's failure to fund new transport projects in London is "disappointing".
The mayor of London pledged to "continue to fight for the investment we need" as he said there must never be an attempt to "level down London".
Sir Sadiq is frustrated that Chancellor Rachel Reeves did not use her spending review to support proposed projects such as the extension to the Docklands Light Railway (DLR) and the Bakerloo Tube line.
He did welcome the decision to provide Transport for London (TfL) with a long-term funding settlement, which it has sought for a number of years.
This set out £2.2 billion in capital funding over four years.
Sir Sadiq said: "It's ... disappointing that there is no commitment today from the Treasury to invest in the new infrastructure London needs.
"Projects such as extending the Docklands Light Railway not only deliver economic growth across the country, but also tens of thousands of new affordable homes and jobs for Londoners.
"Unless the Government invests in infrastructure like this in our capital, we will not be able to build the numbers of new affordable homes Londoners need.”
Local government needs 'urgent clarity' on spending
15:44 , Alastair LockhartLocal government needs “urgent clarity” on spending as councils continue to face pressure on their finances, the chair of the Local Government Association has said.
Louise Gittins also welcomed the spending review’s increase in investment for transport and infrastructure.
She said: “It is positive that the Spending Review delivers on some key LGA asks. Funding announced for children’s services and SEND support will help more children get the right support and avoid reaching crisis point. We are also pleased at increased investment in the Affordable Homes Programme and the commitment to a 10-year rent settlement, which will support councils to invest in maintaining existing homes and ramping up vital new build programmes.
“Extra investment in places to support regeneration, transport and infrastructure is good news for residents and communities in these places.
“However, all councils will remain under severe financial pressure. Many will continue to have to increase council tax bills to try and protect services but still need to make further cutbacks. While government faced tough choices, future funding for adult social care is good news but a lack of significant extra government money needed to meet immediate pressures is worrying.
“We expect government to provide urgent clarity on how it plans to address high needs deficits, which are projected to rise to £5 billion next year, as part of its forthcoming SEND reforms. Over half of councils have warned they will become insolvent next year when the statutory override flexibility ends and we continue to urge government to write off these deficits.”
'Painful' budget measures now likely, say economists
15:31 , Alastair LockhartThe Government could have to announce "painful" fiscal measures in upcoming Budgets to balance the books after revealing fresh spending plans, economists have warned.
Experts have said tax increases are "almost inevitable" later this year in order for the Chancellor Rachel Reeves to meet her fiscal rules.
Stephen Millard, interim director of the NIESR economic research institute, said: "The Chancellor has yet again said that her fiscal rules are non-negotiable.
"But, given the small amount of headroom at the time of the spring statement and the increases in spending announced since then, it is now almost inevitable that if she is to keep to her fiscal rules, she will have to raise taxes in the autumn budget."
Raj Badiani, economics director at S&P Global Market Intelligence, said: "The Government will face a persistent challenge of providing substantial funding increases to health, housing, defence and infrastructure development while also ensuring adequate financing to non-protected services - all against the backdrop of meeting its non-negotiable fiscal rules.
"The goal of balancing books is likely to require a series of painful fiscal announcements, with the spending review following on from a difficult spring statement and 2024's autumn budget.”
Police chiefs' chair reacts to spending review
15:17 , Alastair LockhartChairman of the National Police Chiefs' Council Gavin Stephens said: "It is clear that this is an incredibly challenging outcome for policing.
"In real terms, today's increase in funding will cover little more than annual inflationary pay increases for officers and staff.
"Whilst we await further detail on allocation to individual forces, the amount falls far short of what is required to fund the Government's ambitions and maintain our existing workforce.
"A decade of underinvestment has left police forces selling buildings, borrowing money and raising local taxes to maintain the what we already have, with forces facing a projected shortfall of £1.2bn over the next two years, which is now expected to rise.
"This is against a backdrop of increasing crime rates, with new and escalating threats from organised crime and hostile states, and more offenders being managed in the community as a result of an overstretched criminal justice system.
"Cutting crime isn't just about officer numbers - we need specialist skills and people, supported with the right systems and technology, to better protect communities.
"We fully support the Government's drive to cut crime and grow officer numbers, but for these to succeed, investment in policing must live up to the ambition."
Food bank charity urges Reeves to 'change course' on planned cuts to social security support
15:02 , Megan HoweThe Trussell Trust, which organises a network of food banks across the UK, has responded to the Chancellor’s Spending Review.
Bosses welcomed the replacement of the Household Support Fund with a new multi-year Crisis and Resilience fund, but said the Government needs to ‘change course’ on cuts to social security support.
Helen Barnard, director of policy, research and impact at Trussell, said: “The Chancellor is right to say that the cost of living is a continuing challenge.
“In the last year alone, food banks in the Trussell community provided almost 3 million parcels to people facing hunger and hardship across the UK.
“We warmly welcome the replacement of the Household Support Fund with a new multi-year Crisis and Resilience fund, which Trussell has been calling for.
“We know this helps prevent people facing short-term crisis from being pushed to having to turn to a food bank.
“Significant new investment in social housing is also a positive step towards getting the building blocks in place that will end the need for emergency food for good.
“However, disabled people and carers still face the looming threat of planned record cuts to social security support which will push 440,000 people into severe hardship and at risk of needing a food bank.
“Unless the government changes course, disabled people on the lowest incomes will certainly not feel this government is ‘on their side’.”
Union leader praises 'enormously positive' extra public sector funding
14:45 , Jacob PhillipsA key union leader has welcomed the extra public sector funding announced in the spending review, describing it as “enormously positive” and “a new chapter”.
Rachel Harrison, GMB national secretary, said: “GMB will always welcome extra cash for the NHS, while fresh money for the police, prisons and probation is something we’ve long called for, along with funding for school buildings and mental health provision in education.
“But, as ever, the proof will be in the pudding as to whether this is enough money – and if it ends up in the right places.”
Lib Dems say Reeves' review lacks ambition and call for closer ties with the EU
14:32 , Jacob PhillipsThe Liberal Democrats said the proposals announced by Rachel Reeves lacked ambition and urged her to pursue even closer ties with the EU.
The party’s Treasury spokeswoman Daisy Cooper said: “It’s been almost a year since Labour swept to power with the promise of change. But we are still not seeing the scale of ambition needed to turn the country around.”
She welcomed investment in the NHS, but said it needed reform of social care to work properly.
Ms Cooper said: “The Chancellor knows, the Health and Social Care Secretary knows, this whole Parliament knows that today’s investment in the NHS will be like pouring water into a leaky bucket if hospitals cannot discharge patients who are well enough to leave because there aren’t the care workers to help them recover at home.”
Britain should also seek to rejoin the customs union with the EU in an attempt to generate growth, she said, adding it could be worth £25 billion for the Treasury and boost GDP by up to 2.2%.
“As long as the Government fails to truly tackle the red tape and trade barriers blocking British businesses, the Government’s grip on economic growth is more akin to a handbrake than an accelerator,” she said.
“We know she was faced with the fallout from the most reckless and the most out of touch Conservative government in recent memory, but being responsible is not just about taking tough decisions, it’s about having the moral courage to make the right ones.”
What were the property announcements in the spending review?
14:27 , Jacob Phillips“The biggest cash injection to social and affordable housing in 50 years”, was announced by Chancellor Rachel Reeves in today’s spending review.
As she promised to allocate £39 billion over the next 10 years to build affordable and social housing, the Chancellor said “a plan to match the scale of the housing crisis must include social housing.”
The money will form part of a new Affordable Homes Programme to support house building, especially for social rent.
Speaking in the House of Commons, the Chancellor also announced that “hundreds of thousands of new homes” would be built using an additional £10 billion allocated for financial investments including those to be delivered through Homes England.
The announcements will help the Government try to achieve its manifesto pledge to build 1.5 million new homes.
You can read the latest analysis from the Standard’s Homes and Property Team here.
What does the four-year funding deal mean for Transport for London?
14:21 , Jacob PhillipsLondon’s Transport Commissioner has said TfL is grateful that the Government has agreed a “much-needed” four-year funding agreement, similar to what is in place with Network Rail and National Highways.
Andy Lord explained the deal would ensure that London’s transport network “can continue to support new homes, jobs and economic growth in the capital”.
London’s most senior transport official said the deal would allow new trains to be introduced on the Piccadilly Line and DLR, as well as new signalling on 40 per cent of the Tube.
He added that it would allow TfL to procure a new tram fleet and move forward with discussions on new Bakerloo line trains.
Mr Lord also added that it would allow TfL to “get to work on renewing some of London’s critical roads, tunnels and flyovers”.
He continued: "Our supply chain supports growth and opportunities right across the UK, with around two-thirds of our suppliers based outside London, and nearly a third of our overall spend and resulting economic benefit felt outside of our city.
“We are pleased that, together with our suppliers, we can move on from the short-term and stop-start nature of funding over recent years and get on with the vital work of making our city and our country work for everyone.”
But he said that TfL will have to “continue to have to make at times difficult decisions” and it will have to continue to prioritise investment and control costs.
'Difficult decisions' will still need to be made despite NHS funding boost, says NHS Confederation CEO
14:09 , Jacob PhillipsMatthew Taylor, chief executive of the NHS Confederation, said the NHS funding boost was welcome “given the precarious state of public finances and will help the NHS to cope with rising demand from an ageing population, often with multiple or more complex physical and mental health conditions”.
Mr Taylor said: “But difficult decisions will still need to be made as this additional £29 billion won’t be enough to cover the increasing cost of new treatments, with staff pay likely to account for a large proportion of it. So on its own this won’t guarantee that waiting time targets are met.
“NHS leaders will therefore need continued backing from Government to redesign services and balance budgets. That means getting political backing when some services are redesigned or cut, including moving hospital services into the community and closer to people’s homes as part of the Government’s three shifts.
“Given the difficult state of public finances health leaders will understand that there is only so much vital capital funding to go round. But we cannot ignore that today’s flat settlement continues to leave a major shortfall in capital funding and it also fails to lift the ban on private investment that is required to boost NHS capital funding.
“This needs to be addressed in the the upcoming national infrastructure strategy and 10-year plan.
“Only then will NHS be able to work with the private sector to build new healthcare facilities including much mooted neighbourhood health hubs, while also supporting economic growth and local regeneration.”
Rachel Reeves branded a 'tinfoil Chancellor' by Mel Stride after spending review
14:06Shadow chancellor Mel Stride branded Rachel Reeves a “tinfoil Chancellor” who is “weak, weak, weak”, and claimed that tax rises will surely come later this year to pay for today’s spending commitments.
He said: “The lesson of the last year has been that when the going gets tough, (Rachel Reeves) blinks.
“She presented herself as the iron Chancellor, but what we have seen is the tinfoil Chancellor. Flimsy and ready to fold in the face of the slightest pressure.
“She said she would not fiddle her fiscal rules. Then she did. She said she wouldn’t make any unfunded commitments, but with the humiliation of the winter fuel U-turn, she just has.
“She looked business leaders in the eye and said ‘no more taxes’. But we all know what happened next, and we all know what is coming in the autumn.
“Her own backbenchers, her Cabinet colleagues, Labour’s trade union paymasters, even the Prime Minister himself, they have all seen that she is weak, weak, weak.”
London businesses say capital has been 'short-changed' by spending review
14:02Business leaders have complained that London has been “short-changed” following the Chancellor’s spending review.
Following Reeves’ speech, BusinessLDN Chief Executive John Dickie, said: “The acid test for this Spending Review is whether the Government’s rhetoric on growth is matched with the investment needed to kickstart the economy.
“The Chancellor has delivered some welcome additional spending on infrastructure, transport and skills. But it looks like London has been left short-changed.
“The Government’s growth mission can only be achieved by unlocking the full potential of London.
“As a UK-wide engine of growth, the capital accounts for a quarter of the country’s economy.”
Mr Dickie added that while a four-year funding deal for Transport for London was welcomed, the lack of certainity around “shovel-ready” infrastructure projects in the capital was “baffling”.
The business leader pointed out that the DLR extension to Thamesmead and the Bakerloo Line extension would create new jobs and open up sites for tens of thousands of new homes.
Sadiq Khan says spending review 'disappointing' for TfL wish list and 'insufficient funding' for Met Police
13:50 , Jacob PhillipsThe Mayor of London Sir Sadiq Khan has said that it is disappointing that there was no commitment in the spending review for “new infrastructure London needs”.
Sir Sadiq also raised concerns about funding for the Met Police, Britain’s biggest police force.
Following the review, the Mayor of London said: “I've been determined to stand up for London and it’s good news that we have won extra resources for transport and housing.
“I have been campaigning for years for a multi-year deal for City Hall and for Transport for London and I welcome this agreement.
“However, I remain concerned that this spending review could result in insufficient funding for the Met and fewer police officers.
“It’s also disappointing that there is no commitment today from the Treasury to invest in the new infrastructure London needs.
“Projects such as extending the Docklands Light Railway not only deliver economic growth across the country, but also tens of thousands of new affordable homes and jobs for Londoners.
“Unless the government invests in infrastructure like this in our capital, we will not be able to build the numbers of new affordable homes Londoners need.
“As Mayor, I’ll continue to make the case to the government that we must work together for the benefit of our capital and the whole country.
“The way to level up other regions will never be to level down London. I’ll continue to fight for the investment we need so that we can continue building a fairer, safer and greener London for everyone.”
What are the key takeaways from Rachel Reeves spending review?
13:43 , Jacob PhillipsRachel Reeves laid the foundations on Wednesday for the next General Election when she unveiled her spending review, writes the Standard’s Political Editor Nicholas Cecil.
The Labour Chancellor set out day-to-day spending plans for the next three years and capital spending plans for the next four.
She confirmed boosts for the NHS to further cut waiting lists, to defence to strengthen the UK’s armed forces in the face of the threat from Vladimir Putin’s Russia, and for schools.
But her spending plans also included squeezes for other departments, including the Home Office.
Key points in her Spending Review included allocating £190bn more to the day-to-day running of public services, raising defence spending to 2.6% of GDP by April 2027, and an extra £29billion to help run the NHS.
Read more about what was announced in the spending review in the Standard’s round-up here.
Reeves wraps up by promising spending review will 'deliver the priorities of the British people'
13:37 , Jacob PhillipsConcluding her speech, Rachel Reeves said the spending review would “deliver the priorities” of the British people.
After announcing a series of extra spending pledges in a speech that lasted around 45 minutes, she told MPs: “This is a spending review to deliver the priorities of the British people.
“Security, a strong Britain, in a changing world. Economic growth, powered by investment and opportunity in every part of Britain. And our nation’s health, with an NHS, fit for the future.
“I have made my choices. In place of chaos, I choose stability. In place of decline, I choose investment. In place of pessimism, division and defeatism I choose national renewal.
“These are my choices. These are Labour’s choices. These are the choices of the British people.”
Reeves announces billions 'to fix our crumbling classrooms'
13:35 , Jacob PhillipsRachel Reeves announced £4.5 billion-a-year for the core schools budget by the end of the spending review.
The Chancellor also said there would be investment rising to nearly £2.3 billion per year to “fix our crumbling classrooms”.
She told the Commons: “Overall, I am providing a cash uplift of over £4.5 billion a year of additional funding for the core schools budget by the end of the spending review, backing our teachers, and backing our kids.
“People who went to ordinary comprehensives like mine in the 80s and 90s are all too familiar with the experience of being taught in temporary classrooms. And the previous Conservative government oversaw another generation of kids herded into cold, damp buildings as school roofs literally crumbled. It wasn’t acceptable when I was at school, and it isn’t acceptable now.
“So I am providing investment rising to nearly £2.3 billion per year to fix our crumbling classrooms. As well as £2.4 billion per year to continue our programme to rebuild 500 schools.”
Reeves annouinces "record" cash investment for the NHS
13:32 , Jacob PhillipsA “strong” NHS is needed to help build a strong economy, the Chancellor said, as she announced a “record” cash investment in the NHS with a 3% increase every year.
Rachel Reeves said it would amount to £29 billion more extra spending.
Ms Reeves recalled the Government’s record on the NHS since coming into office, including 1,700 new GPs, 3.5 million more appointments and cutting waiting lists by 200,000.
She said the Government was spending £10 billion on more digitising services as part of the Government’s 10-year plan for the health service.
She said: “To support that plan, to back the doctors and nurses we rely on, and to make sure the NHS is there whenever we need it, I am proud to announce today that this Labour Government is making a record cash investment in our NHS, increasing real-terms, day-to-day spending by 3% per year for every year of this spending review.
“An extra £29 billion per year for the day-to-day running of the health service. That is what the British people voted for and that is what we will deliver. More appointments. More doctors. More scanners. The National Health Service, created by a Labour government, protected, by a Labour government, and renewed, by this Labour Government.”
Government to invest millions in school-based nurseries, Reeves announces
13:23 , Jacob PhillipsRachel Reeves has said £370 million will be spent on school-based nurseries, in addition to £555 million to “break the dangerous cycle of late intervention and low-quality care”.
The Chancellor told the Commons: “I can also announce £370 million for school-based nurseries, to put us firmly on track to meet our Plan for Change commitment – for a record number of children being school-ready.
“And for children’s social care, to break the dangerous cycle of late intervention and low-quality care, I am providing £555 million of transformation funding over the spending review period, so that children do not go needlessly into care when they could stay at home. And, for children where state intervention is necessary, better care and better outcomes.
“And last week, I was pleased to announce, with … the Culture Secretary (Lisa Nandy) that more than £130 million from the Dormant Assets scheme with the financial services sector will be allocated to fund facilities for our young people, to give every child the chance to take part in music, sport and drama, to fund libraries in schools, so that the confidence and opportunities that those resources open up, are no longer the preserve of a privileged few.”
Rachel Reeves announces billions for Scotland, Northern Ireland and Wales
13:15 , Jacob PhillipsRachel Reeves announced £52 billion for Scotland, £20 billion for Northern Ireland, and £23 billion for Wales, as she pledged the “largest settlements in real terms since devolution was introduced”.
The Chancellor also announced £118 million will be spent on the safety of coal tips in Wales.
She told the Commons: “This spending review provides the largest settlements in real terms since devolution was introduced, with £52 billion for Scotland, £20 billion for Northern Ireland, by the end of the spending review period, and £23 billion for Wales.
“And having heard representations from many Welsh Labour colleagues and because I know the obligation we owe to our industrial communities, I am providing a multi-year settlement of £118 million to keep coal tips safe in Wales.”
She added there would be “additional funding to support up to 350 communities, especially those in the most deprived areas”.
More money provided to help introduce 13,000 extra police officers in England and Wales
13:15Policing will get more cash to allow Labour to fulfil its manifesto pledge of introducing 13,000 extra police officers in England and Wales.
The Chancellor said it was important for people to feel safe in their communities.
“Safe in the knowledge that when people break the law, they will feel the force of the law,” Rachel Reeves said.
“I am increasing police spending power by an average 2.3% per year in real terms over the spending review period to protect our people, our homes and our streets,” she continued.
“That is more than £2 billion, supporting us to meet our plan for change commitment of putting 13,000 additional police officers, PCSOs and special constables into neighbourhood policing roles across England and Wales.”
Chancellor confirms Government is reviewing rules to let it spend more money across England
13:10 , Jacob PhillipsThe Chancellor confirmed the Government is reviewing its green book spending rules, which will allow the Treasury to spend more money on projects rejuvenating towns across England.
Rachel Reeves said concerns had been brought to her by MPs and Liverpool mayor Steve Rotheram. She said it would overturn generations of underinvestment in areas outside London and south-east England.
She said: “This Government takes seriously its commitment to investment, jobs and growth in every part of the UK. And I have heard the concerns of (Andrew Cooper) and (Andy MacNae) and the mayor of Liverpool City Region, Steve Rotheram that past governments have underinvested in towns and cities outside London and the South East. They are right.
“So I am today publishing the conclusion of the review of the Treasury’s green book, the Government’s manual for assessing value for money. Our new green book will support place-based business cases and make sure no region has Treasury guidance wielded against them.
“I said we would do things differently. I said that we wanted growth in all parts of Britain. And I meant it.”
Chancellor announces a range of investment in transport across the country, including a new settlement for TfL
13:09 , Jacob PhillipsThe Chancellor has announced a range of investments in buses and trains across the country.
The Government will set out plans “to take forward our ambitions for Northern Powerhouse Rail” in the coming weeks, the Chancellor announced alongside an additional £3.5 billion to upgrade the TransPennine route.
Rachel Reeves said that there would be investment in buses in Rochdale, train stations in Merseyside and Middlesbrough, mass transit in West Yorkshire and Metro extensions in Birmingham, in Tyne and Wear and in Stockport.
She also said the Government was backing Doncaster Airport.
Reeves also announced a new four-year settlement for Transport for London “to provide certainty and stability for our largest local transport network to plan for the future”.
Rachel Reeves announces bigget cash injection into social and affordable housing in 50 years
13:04 , Jacob PhillipsRachel Reeves has announced the biggest injection of cash into social and affordable housing in half a decade.
She told the Commons: “I am proud to announce the biggest cash injection into social and affordable housing in 50 years.
“A new Affordable Homes Programme – in which I am investing £39bn over the next decade.
“Direct government funding that will support housebuilding, especially for social rent and I am pleased to report that towns and cities including Blackpool, Preston, Sheffield and Swindon already have plans to bring forward bids to build new houses.”
The Chancellor said she was also providing an additional £10billion for financial investments to be delivered through Homes England.
She said she hopes that the move will bring in private investment and unlock hundreds of thousands more homes.
Government hoping to partner with Rolls-Royce in race for nuclear technologies
12:59 , Jacob PhillipsBritain’s spending on small modular nuclear reactors will ensure the UK is at the “forefront of a global race for new nuclear technologies”, Rachel Reeves said.
She said the preferred partner for the £2.5 billion project is Rolls-Royce. The same amount will be spent on nuclear fusion.
“This investment is just one step towards our ambition for a full fleet of small modular reactors as well as providing a route for private sector-led advanced modular reactor projects to be deployed in the UK,” the Chancellor told MPs.
She added it would “strengthen Britain’s position at the forefront of a global race for new nuclear technologies”.
The Chancellor said the Government would also support the Acorn project for carbon capture in Scotland.
She said: “These are investments to make sure the towns and cities which powered our last industrial revolution will play their part in our next industrial revolution, to reduce our reliance on overseas oil and gas and protect working families from price shocks.
“A new generation of energy industries – for a renewed Britain. That is my choice. That is Labour’s choice. And that is the choice of the British people.”
Government will end the 'costly' use of hotels to house asylum seekers, says Reeves
12:57 , Jacob PhillipsThe Government will end the “costly” use of hotels to house asylum seekers in this Parliament, Rachel Reeves told the Commons.
The Chancellor said: “To support the integrity of our borders I can announce that funding of up to £280 million more per year by the end of the spending review for our new Border Security Command.
“Alongside that, we are tackling the asylum backlog. The party opposite left behind a broken system: billions of pounds of taxpayers’ money spent on housing asylum seekers in hotels, leaving people in limbo and shunting the cost of failure onto local communities. We won’t let that stand.
“So I can confirm today that, led by the work of … the Home Secretary, we will be ending the costly use of hotels to house asylum seekers in this Parliament.
“Funding that I have provided today, including from the Transformation Fund, will cut the asylum backlog, hear more appeal cases, and return people who have no right to be here, saving the taxpayer £1 billion per year.”
Chancellor announces investment in nuclear power as part of 'securonomics'
12:56The Chancellor has spoken about her desire for “securonomics” as she repeated the Government’s plans to invest in nuclear energy.
She told MPs: “If we want national security in a dangerous world that does not stop at the strength of our armed forces or our borders.
“I have long spoken about what I call ‘securonomics’: The basic insight that, in an age of insecurity, government must step up to provide security for working people and resilience for our national economy.
“Put simply: where things are made, and who makes them, matters.”
Reeves highlighted that Britain was left exposed to energy price hikes when Russia invaded Ukraine, meaning working people paid the price.
“On this side of the house we understand that energy security is national security,” the Chancellor added as she explained the Government was committing £30billion to “our nuclear-powered future”.
Defence spending to be increased further due to 'new era in threats'
12:48 , Jacob PhillipsRachel Reeves has also announced that defence spending will rise to 2.6% of GDP by April 2027 rather than 2.5%, including the contribution of intelligence agencies.
She told the Commons: “A new era in the threats we face demands a new era for defence and security.
“That’s why we took the decision to prioritise our defence spending by reducing Overseas Development Aid so that defence spending will now rise to 2.6% of GDP by April 2027 including the contribution of our intelligence agencies.”
Reeves also announced funding of “up to £280 million more per year” by the end of the spending review for the Border Security Command to “support the integrity of our borders”.
Reeves says her fiscal rules have allowed her to allocate £190 billion more on day-to-day spending
12:45 , Jacob PhillipsRachel Reeves said her fiscal rules have allowed her to allocate £190 billion more to the day-to-day running of public services over the course of the spending review.
In a statement on the spending review, the Chancellor told the Commons: “My first rule is for stability, that day-to-day government spending should be paid for through tax receipts. That is the sound economic choice and it is also the fair choice, because it is not right to expect our children and future generations to pay for the services we rely on today.
“This first rule allows me as I set out in the budget to allocate £190 billion more to the day-to-day running of our public services over the course of the spending review, compared to the previous government’s plans.
“My second fiscal rule enables me to invest in Britain’s economic renewal while getting public debt on a downward path. This rule has allowed me to increase public investment by over £100 billion in the autumn, and a further £13 billion in the spring.
“Investment to rebuild our transport network, to rebuild our defence capability and to rebuild our energy security. In short, to grow our economy.”
Rachel Reeves takes aim at Liz Truss and Nigel Farage during spending review
12:43 , Jacob PhillipsThe Chancellor said the Conservatives “crashed the economy” and warned that Reform UK are “itching to do the same all over again” as she revealed her spending review.
Rachel Reeves quipped: “The Member for Clacton [Nigel Farage] might be playing friend of the workers now but some of us are old enough to remember when he described that disastrous Liz Truss budget as and I quote ‘the best Conservative budget’ since the 1980s.
“His party has been in parliament for less than a year, and yet already they have racked up £80 billion of unfunded commitments.
“They are simply not serious. Mr Speaker, every day it becomes clearer: It is Labour – and only Labour – that has a credible plan for the renewal of Britain.”
'Austerity was a destructive choice for the fabric of our society' says Reeves
12:40 , Jacob PhillipsTotal departmental budgets will grow by 2.3% per year in real terms, the Chancellor has announced as she began setting out her spending review.
Speaking to the Commons, Rachel Reeves said: “Austerity was a destructive choice for the fabric of our society.
“And it was a destructive choice for our economy too, choking off investment and demand, creating a lost decade for growth, wages and living standards.
“My choices are different. My choices are Labour choices. The choices in this spending review that are possible only because of my commitment to economic stability and the decisions that this government has made.
“The Conservatives’ fiscal rules guaranteed neither stability, nor investment.
“And that is why I changed them. My fiscal rules are non-negotiable and they are the foundation of stability and of investment.”
Chancellors says she has made necessary choices to fix foundations of economy
12:37 , Jacob PhillipsThe Chancellor has said that so far she has made the “choices necessary to fix the foundations of our economy”.
She said that the Labour Party “wasted no time in removing the barriers to growth” and that the Government are starting to see results.
She added: “The stability we have provided has helped support four cuts in interest rates, saving hundreds of pounds a year for families with a mortgage.
“Real wages have grown by more in the first ten months of this Labour government than in the first ten years of the previous Conservative government.
“And the latest figures showed us to be the fastest growing economy in the G7; With countries lining up to do business with Britain once again, backed by new trade deals with India, the United States and the European Union.”
Chancellor Rachel Reeves begins her spending review
12:35 , Jacob PhillipsStraight after Prime Minister’s Questions, Chancellor Rachel Reeves has begun her spending review.
She began by telling MPs: “My driving purpose since I became Chancellor is to make working people, in all parts of our country, better off.
“To rebuild our schools and our hospitals to invest in our economy so that everyone has the opportunity to succeed, after fourteen years of mismanagement and decline by the party opposite, culminating in a £22bn black hole in the public finances.
That was their legacy and the first job I faced as Chancellor was to set that right.”
Prime Minister 'uttlerly condemns' violence in Northern Ireland
12:33Stepping away from speaking about the economy, the Prime Minister has condemned violence in Northern Ireland.
Seventeen police officers have been injured following a second night of sustained violence in Ballymena, the Police Service of Northern Ireland (PSNI) said.
PSNI Chief Constable Jon Boutcher has warned that the rioting “risks undermining” the criminal justice process into an allegation of a sex attack on a teenage girl in the Co Antrim town at the weekend.
Stormont ministers have also made an urgent appeal for calm and said the justice process had to be allowed to take its course.
Sir Keir Starmer told MPs: “I utterly condemn the violence that we have seen overnight in Ballymena and in other parts of Northern Ireland.
“It’s absolutely vital that the PSNI are given the time they need to investigate the incidents concerned rather than face mindless attacks as they seek to bring peace and order to keep people safe.”
Kemi Badenoch says Prime Minister 'wants to hide his economic record'
12:19 , Jacob PhillipsTory leader Kemi Badenoch has once again insisted the Government is struggling to balance the books as Prime Minister’s Questions became more heated.
She cited the Government’s U-turn on winter fuel payments and added that “unemployment has increased every month since Labour took office”.
The Prime Minister joked that Liz Truss must be back advising the Conservatives about the economy.
He said: “She’s obviously missed the interest rate cuts, the growth figures for earlier this year, the strategic defence review, local transport £15 billion going in, free school meals, Sizewell, social housing.
“She stands there to lecture us, and I see Liz Truss is obviously back in vogue. Advising Reform officially now, haunting the Tories.”
Badenoch responded: “He loves talking about Liz Truss. Why? Because he wants to hide from his own economic record.
“He’s a coward and every time he stands up there and talks about Liz Truss it’s because he is scared of talking about his record and what is happening to the economy out there.”
Kemi Badenoch takes aim at Prime Minister over the economy
12:12 , Jacob PhillipsConservative leader Kemi Badenoch has taken aim at the Prime Minister at Prime Minister’s Questions, saying that inflation has nearly doubled, growth has halved and unemployment has surged.
In response, Sir Keir Starmer has highlighted that since the General Election 500,000 more people are in work. “I know she doesn’t mention that,” he quipped. “She is fixated on talking Britain down.”
He added that in the past few weeks, the strategic defence review has been announced, creating 30,000 new jobs building submarines, as well as thousands of more jobs that will be created from building new social and affordable housing.
Prime Minister's Questions begin
12:06 , Jacob PhillipsPrime Minister’s Questions has begun with Sir Keir Starmer taking questions in the Commons.
But many will consider the event a ‘warm up act’ for the spending review, which will take place shortly afterwards.
The Chancellor Rachel Reeves is expected to address the Commons at around 12.30pm.
Prime Minister says spending review 'marks end of first phase of this Government'
12:04 , Jacob PhillipsSir Keir Starmer told Cabinet that today’s spending review “marks the end of the first phase of this Government, as we move to a new phase that delivers on the promise of change for working people all around the country and invests in Britain’s renewal”, Downing Street said.
Chancellor Rachel Reeves told the ministers the spending review “would invest in economic growth, creating jobs and backing British industry in all parts of the country”.
She promised “investments in defence, protection of our borders, and energy security; and public services including health and education”.
'NHS has done really well relative to other parts of public service,' says NHS England boss
12:00 , Jacob PhillipsNHS England boss Sir Jim Mackey said the NHS has done “really well” in the spending review.
Speaking at the NHS ConfedExpo conference in Manchester, he said: “The NHS has done really well relative to other parts of the public service.
“But we all know it’s never enough because of the scale of advancement, all the ambition, all things we want to do, the day-to-day cost pressures we’re trying to get on top of, etc.
“We’re always going to be in a world where we want more money, but I think everyone’s starting to accept and understand that we’ve got what the country can afford to give us.
“We really need to get better value for that money – it is broadly the equivalent of the GDP of Portugal, so it’s a huge amount of money by any standards.
“It’s a huge amount – (the) Government has done us a really good turn compared to other parts of the public service.
“But it’s not going to allow us all to just take our feet off the pedal and just run loose and do what we want to do in this next period, we have still got an awful lot of difficult things to do.”
On social care, he added: “Social care in local authorities won’t do brilliantly in the spending review, and then we have the review of social care, so we will be left with what we can do as much as we can within our gift.”
More tax rises could be on the way 'if anything goes wrong' warns the IFS
11:47 , Jacob PhillipsRachel Reeves may be forced to raise taxes again if “anything at all goes wrong” with her economic plan, leading experts are warning.
The Institute for Fiscal Studies stressed that the Chancellor has little room for manoeuvre if she wants to avoid busting her economic rules.
IFS director Paul Johnson explained that there would be some “genuinely big increase in investment spending”.
“The risk is certainly that when we get to the next Budget this coming autumn, if the economic forecasts move at all in the wrong direction, then we may have to have some more tax increases,” Mr Johnson told BBC radio.
“The Chancellor is sticking to the overall spending plan that she set out back in October, what she is doing is allocating that money (in the Spending Review).
“The risk in terms of further tax rises is if anything at all goes wrong with any of the current forecasts then they will come again in the autumn.”
You can read more about Mr Johnson’s analysis here.
Rachel Reeves seen leaving Downing Street
11:37 , Jacob PhillipsThe Chancellor Rachel Reeves has left 11 Downing Street ahead of presenting the spending review to Parliament.
Reeves is expected to address MPs following Prime Minister’s Questions at around 12.30pm.
Boost for social housing welcomed as waiting lists in London at 10 year high
11:32 , Jacob PhillipsLondon boroughs are expected to breathe a sigh of relief as Rachel Reeves boosts affordable and social housing spending.
The Chancellor has designated £39 billion over the next 10 years to build affordable and social housing, providing much-needed funds for boroughs facing deep housing cutbacks.
Last month, research by London Councils warned the capital’s town halls will need to reduce their spending on council housing by £264m to avoid busting their budgets in the next three years, unless the government boosts support.
The number of people on London borough waiting lists for social housing has reached 336,366 households - a 10 year high.
Homelessness is also at the highest ever recorded levels, with London Councils estimating that one in 50 Londoners is homeless and living in temporary accommodation.
The capital accounts for 56% of all homeless households in England, and London boroughs collectively spend £4m every day on temporary accommodation.
London boroughs hope spending review will help stop them slipping into bankruptcy
10:54 , Jacob PhillipsLondon boroughs are hoping the spending review will bring much-needed support to end the crisis in town hall finances.
Last week, London Councils highlighted the worsening deficits for SEND provision, with 16 of London’s 33 local authorities at heightened risk of bankruptcy due to insufficient schools funding from the government.
London Councils forecasts deficits for SEND provision will be £500million by the end of 2026/27.
Ian Edwards, the leader of Hillingdon Council and London Councils’ Executive Member for Children and Young People, has called for the spending review to “help us restore stability to the system”.
You can read more about what London boroughs are hoping for from the spending review here.
'Don’t price a generation of Londoners out of our city', Sadiq Khan warns Chancellor
10:32 , Jacob PhillipsSir Sadiq Khan has warned that a “generation of Londoners” risk being priced out of the capital unless the government prioritises affordable housing in the city.
The mayor issued the stark warning to the Chancellor ahead of her unveiling her spending review on Wednesday.
There has been growing speculation that Rachel Reeves will snub London in her spending plans as she plans to allocate cash to other areas of the country.
“I have been lobbying the government, as have mayors across the country, for significant investments in the affordable housing program,” Sir Sadiq told the BBC.
“We know in the last nine years we've broken records for the most homes completed anytime since the 1930s, the most council homes completed since the 1970s.
“But there's a perfect storm, and without the government support, I'm afraid housing numbers will not go up, and the numbers need to go up or you have a generation of Londoners priced out of our city. That can't be right for London, or the country.”
Reeves is expected to include £39bn for social housing over the next decade in her review as the government aims to meet its target of building 1.5 million new homes this parliament.
You can read more about what Sir Sadiq said here.
Boost to NHS will lead to cuts elsewhere, says IFS director
10:20 , Jacob PhillipsThe director of the IFS has warned that there will be pain in some areas of the spending review today.
Speaking to the Today programme this morning, Paul Johnson said that Rachel Reeves’ spending review will see a “genuinely big increase in investment spending, certainly relative to previous plans”.
He explained: “The big increase is in capital spending. There will be some money for the NHS but not a big amount by historic standards.
“The consequence of that will be cuts elsewhere, and that is what we need to look out for today. Where is the pain going to be, given the largesse in some areas?”
The economist explained that the Chancellor is not announcing any new money in the spending review but allocating money from the spending plan she set out in October.
Asked about how the Government’s decision to U-turn and reinstate winter fuel payments was being paid for, the economist added: “It’s an absolutely tiny sum of money... The savings form that are so trivial they are barely worth the trouble.
“The funding for that will come from the corners of the budget. It’s too small to think there’s going to be a half-billion-pound tax rise or a billion-pound tax rise to pay for it.”
Boosts to NHS and Defence expected during spending review
09:54 , Jacob PhillipsRachel Reeves will lay the foundations on Wednesday for the next General Election, expected in 2029, when she unveils her spending review, writes the Standard’s Political Editor Nicholas Cecil.
It is expected to see boosts for the NHS to further cut waiting lists, for defence to strengthen the UK’s armed forces in the face of the threat from Vladimir Putin’s Russia, and for schools.
But it is also set to involve squeezes for other departments, including the Home Office, as the Chancellor seeks to keep within the fiscal rules she has set for herself.
Announcements so far include: £15.6 billion for public transport projects in England's city regions, £39 billion over the next 10 years to build affordable and social housing, and £16.7 billion for nuclear power projects, including £14.2 billion for the new Sizewell C power plant in Suffolk.
An extension of the £3 bus fare cap will be in place until March 2027 while £445 million has also been announced to upgrade Welsh railways.
Reeves is also expected to announce up to £30 billion more for the NHS and to increase day-to-day funding for schools by £4.5 billion by 2028-9 compared with the 2025-6 core budget.
Find out more about the key points of the Chancellor’s spending review here.
Spending review could "make or break" government's housing target
09:24The Chancellor has announced billions of pounds of funding for affordable and social housing ahead of her spending review, but questions have been raised about whether the funding will go far enough to solve Britain’s housing crisis.
The Labour Government pledged to build 1.5 million new homes in its election manifesto, and Reeves is under pressure to allocate the funding to reach these targets.
It is expected that new housing investment will be announced during the spending review on Wednesday.
Last week, Florence Eshalomi, Chair of the cross-party Housing Committee, said that the review is “make or break for the 1.5 million target” in an open letter to Reeves.
The committee has insisted that a “generational increase in social and affordable housing investment is required” and that private investment alone won’t be enough to reach the government’s target.
Meanwhile, Shelter has consistently called for the Government to invest in 90,000 social homes a year in the spending review to help end homelessness.
You can read all about what the spending review means for the property market here.
When will Reeves deliver her spending review?
08:57 , Jacob PhillipsThe Chancellor Rachel Reeves is expected to address the House of Commons shortly after Prime Minister’s Questions on Wednesday.
Reeves will make the announcement at around 12.30pm with accompanying documents expected to be published once the Chancellor finishes speaking.
She is then expected to take questions from MPs for an hour or two.
'Sharp trade-offs are unavoidable' at spending review, IFS warns
08:51 , Jacob PhillipsWhile the NHS and Defence are expected to get a boost in funding, other Whitehall departments are facing real-term cuts in their budgets.
The Institute for Fiscal Studies (IFS) has warned that “sharp trade-offs are unavoidable” for the Chancellor.
The think tank has said the review could be “one of the most significant domestic policy events of this parliament”.
Rachel Reeves’ spending envelope is expected to mean a two per cent real increase in overall spending for this financial year, and then declining to 1.5 per cent in 2026-27 and 0.9 per cent for each of the following two years.
In London, there have been concerns about funding for forces to fight crime.
The dire straits of the public finances have already been laid bare by the expected bill of £111 billion on debt interest after the nation’s debt mountain soared to more than £2.8 trillion, partly due to the Covid pandemic.
Reeves told not to ignore London's role as engine of British economy
08:34The Chancellor has been warned that it is vital to invest in London in order to make sure the entire country succeeds.
The UK’s financial and related professional services industry is an unparalleled national asset, Chris Hayward, the Policy Chairman at the City of London Corporation, has insisted.
Writing in the Standard, Mr Hayward has pointed out that London is the engine of the British economy and its workers are nearly twice as productive as the national average.
He has called on Rachel Reeves to “double down on London’s strengths”.
You can read Mr Hayward’s piece here.
Key points announced ahead of the spending review
08:12 , Jacob PhillipsThe full details of Rachel Reeves’ spending review will be revealed in the Commons on Wednesday, setting out day-to-day spending plans for the next three years and capital spending plans for the next four.
But a number of announcements have already been made, with major investment expected for nuclear power projects and affordable housing.
They include:
– £15.6 billion for public transport projects in England’s city regions;
– £16.7 billion for nuclear power projects, including £14.2 billion for the new Sizewell C power plant in Suffolk;
– £39 billion over the next 10 years to build affordable and social housing;
– An extension of the £3 bus fare cap until March 2027;
– £445 million for upgrades to Welsh railways.
The Chancellor is also expected to announce changes to the Treasury’s “green book” rules that govern whether major projects are approved. The move is expected to make it easier to invest in areas outside London and the South East.
Sir Sadiq Khan 'furious' at no support for key transport projects in London
08:04 , Jacob PhillipsRumours have spread of a rift between Sir Sadiq Khan and the Chancellor Rachel Reeves, with the Mayor said to be furious that there is unlikely to be any support for key transport projects.
Sources close to Sir Sadiq believe there will be no support for any of the three projects on Transport for London’s “wish list”.
These are the DLR extension to Thamesmead, the Bakerloo line Tube extension and the West London Orbital rail link between Hounslow and Hendon.
City Hall took the highly unusual step of daring to criticise Reeves this week, with the Mayor wanting to avoid a “red on red” clash during the first year of the Labour Government.
You can read more about Sir Sadiq’s transport plans here.
Department for Health set to be big winner from spending review
07:56 , Jacob PhillipsThe Chancellor is expected to confirm funding increases for the NHS, schools and defence as she shares out some £113 billion freed up by looser borrowing rules on Wednesday.
The Department of Health is set to be the biggest winner, with the NHS expected to receive a boost of up to £30 billion at the expense of other public services, including the Home Office.
The review will also include £39 billion over the next 10 years to build affordable and social housing.
The Government has already committed to spending 2.5% of GDP on defence from April 2027, with a goal of increasing that to 3% over the next Parliament.
Day-to-day funding for schools is also expected to increase by £4.5 billion by 2028-9 compared with the 2025-6 core budget, which was published in the Spring Statement.
Fears grow that London will miss out ahead of spending review
07:47 , Jacob PhillipsGood Morning and welcome to the Standard’s live coverage of the spending review.
Today, the Chancellor Rachel Reeves is expected to unveil tens of billions of pounds of investment in capital projects when she presents her plan in Parliament.
Ms Reeves will pledge “the biggest ever local transport investment in England’s city regions outside of London and the South East”.
Vowing to “invest in Britain’s renewal,” she is again due to go out of her way to stress that reforms will guarantee “towns and cities outside London and the South East can benefit from new investment”.
But her approach was sparking fears that the Government may be adopting an “anti-London” stance.
There have been growing concerns that London will miss out as the Labour government pours money into the regions, partly to combat the political threat from Nigel Farage’s Reform UK.
