Reeves Delivers Multi-Year Spending Review – Guido Fawkes

LIVE: Reeves Delivers Multi-Year Spending Review

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The most recent multi-year spending review occurred in 2021. Downing Street this time round heavily briefed on ongoing negotiations with departments. There are losers…

Public spending will end up at 44.6% of GDP – the biggest spending spree since the Second World War. Follow live updates below…

• The first tax cuts for which the Chancellor has been responsible are in Mauritius.
• Points out there was no mention of 3% on defence.
• Stride up to oppose.
• Statement done. Basically no detail whatsoever in that…
• NHS. 3% cash increase every year of spending review.
• Attacks Farage for going to Westminster Arms.
• £13.2 billion will be spent in full on home insulation.
• £130 million from dormant asset scheme will be allocated to fund “facilities for our young people” for music sport drama and libraries.
• Schools: Free school meals extended. £370 million for school-based nurseries.
• £3 bus fare cap extended till at least March 2027.
• She’ll announce plans for Northern Powerhouse Rail in the coming weeks.
• A new Green Book.
• A new Affordable Homes Programme – in which investing £39 billion over the next decade.
• £1.2 billion per year by end of spending review on training and upskilling.
• British Business Bank to be “beefed up.”
• Reeves says businesses want the “chance to innovate.“
• GB Energy investment.
• Funding for third carbon capture project.
• Nuclear power pre-announced announcement. £30 billion commitment. SMR programme with Rolls Royce.
• Hotel use for asylum seekers will end in this parliament. Funding also from transformation fund.
• Funding for Border Security Command increases up to £280 million more per year by end of spending review.
• £4.5 billion investment in munitions.
• 2.6% GDP by April 2027. Intelligence included. £11 billion defence boost. £600 million intelligence boost.
• Attacks Farage for praising mini-budget as “best Conservative budget since the 1980s.”
• Choices only possible thanks to her “commitment to economic stability and to the decisions that I have made.“
• Total departmental budgets will grow 2.3% annually in real terms.
• Thanks Darren Jones.
• “We are renewing Britain.” But too many “are yet to feel it.” Gulp…
• Four cuts in interest rates mooted along with G7 growth. Sluggish…
• Reeves brings up the fake £22 billion black hole again.
• Reeves begins.