Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Social Partner

Everything you need to know about Rachel Reeves’ spending review

Chancellor Rachel Reeves presented her first spending review, outlining both spending increases in key areas and cuts to some departments, leading to accusations of a return to austerity.
The review includes significant investments such as £15.6 billion for transport in England's city regions, £16.7 billion for nuclear power projects like Sizewell C, and £22 billion annually for research and development, including AI.
Border security will receive up to £280 million per year, with a plan to end the use of asylum hotels by 2029, saving £1 billion annually, while £39 billion is allocated over the next decade for affordable housing.
The NHS will see a £30 billion boost, with its budget rising by 3 per cent each year for three years, while schools will receive a £4.5 billion annual uplift, including £2.3 billion to address classroom repairs.
Despite some investments, the review disappointed some Labour backbenchers by not lifting the two-child benefit cap and London Mayor Sadiq Khan, who expressed concerns over insufficient funding for the Metropolitan Police and key infrastructure projects.