Chancellor Rachel Reeves has unveiled the UK government’s latest spending review, outlining funding plans for all departments over the coming years. The announcement details how billions
of pounds of taxpayer money will be allocated across key public services and infrastructure projects.
Key highlights from the review include:
Affordable Housing: A central focus of the review is a new £39 billion plan to deliver more affordable homes across the country.
NHS Funding: The National Health Service will receive a 2.8% real-terms increase in its annual day-to-day spending over the next three years, aimed at easing pressures on services and improving patient care.
Defence and Education: Spending on both defence and schools is set to rise, reflecting the government’s commitment to national security and education.
Energy Investment: A significant £11.5 billion in new funding has been pledged for the Sizewell C nuclear power station in Suffolk. This brings the total taxpayer investment in the project to £17.8 billion.
Support for Pensioners: In a policy reversal, the Treasury will reinstate winter fuel payments for pensioners, offering additional help during the colder months.
Public Transport: The popular £3 bus fare cap will be extended until March 2027. Additionally, £15.6 billion will be allocated to public transport projects in city regions across England, with a further £445 million earmarked for upgrades to rail infrastructure in Wales.
The spending review aims to balance support for public services and long-term investment, while addressing immediate cost-of-living concerns and future-proofing the UK’s infrastructure.