{"id":175761,"date":"2025-06-11T13:31:09","date_gmt":"2025-06-11T13:31:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/175761\/"},"modified":"2025-06-11T13:31:09","modified_gmt":"2025-06-11T13:31:09","slug":"reeves-splashes-cash-across-transport-healthcare-and-energy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/175761\/","title":{"rendered":"Reeves splashes cash across transport, healthcare and energy"},"content":{"rendered":"<p>\t\t\tWednesday 11 June 2025 1:19 pm<br \/>\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n<p>\t\t\tWednesday 11 June 2025 1:57 pm\n\t<\/p>\n<p class=\"author-bio__name\">\n<p>\t\t\t\t\tBy:<br \/>\n\t\t\t\t<a class=\"author-bio__link\" href=\"https:\/\/www.cityam.com\/profile\/simon-hunt\/\" rel=\"author noopener\" target=\"_blank\">Simon Hunt<\/a>\t\t\t\t and \t\t\t\t<a class=\"author-bio__link\" href=\"https:\/\/www.cityam.com\/profile\/fonie-mitsopoulou\/\" rel=\"author noopener\" target=\"_blank\">Fonie Mitsopoulou<\/a>\t\t\t<\/p>\n<p>\t\t\tShare<\/p>\n<ul>\n<li class=\"social-share__popup-item\">\n<p>\t\t\t\t\t\tFacebook\t\t\t\t\t\tShare on Facebook\n\t\t\t\t<\/li>\n<li class=\"social-share__popup-item\">\n<p>\t\t\t\t\t\tX\t\t\t\t\t\tShare on Twitter\n\t\t\t\t<\/li>\n<li class=\"social-share__popup-item\">\n<p>\t\t\t\t\t\tLinkedIn\t\t\t\t\t\tShare on LinkedIn\n\t\t\t\t<\/li>\n<li class=\"social-share__popup-item\">\n<p>\t\t\t\t\t\tWhatsApp\t\t\t\t\t\tShare on WhatsApp\n\t\t\t\t<\/li>\n<li class=\"social-share__popup-item\">\n<p>\t\t\t\t\t\tEmail\t\t\t\t\t\tShare on Email\n\t\t\t\t<\/li>\n<\/ul>\n<p><img width=\"742\" height=\"495\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/06\/54267855141_5d0fc94a86_k.jpg\" class=\"media \" alt=\"\" fetchpriority=\"high\" loading=\"eager\" decoding=\"sync\"  \/>\t\tRachel Reeves MP, The Chancellor of the Exchequer<br \/>\n\u00a9House of Commons\t<\/p>\n<p>Rachel Reeves has insisted her fiscal rules are \u201cnon-negotiable\u201d as the Chancellor splurged on transport, tech and energy investment in her Spending Review, paving the way for further tax hikes in the autumn.<\/p>\n<p>Reeves said she made \u201cthe choices necessary to fix the foundations of our economy\u201d accusing the previous government of leaving a \u201c\u00a322bn black hole\u201d as a \u201clegacy\u201d in the Autumn Budget, in which she unveiled \u00a340bn in tax hikes.\u00a0<\/p>\n<p>Total departmental budgets will grow by 2.3 per cent a year in real terms, Reeves said, while defence spending is to increase to 2.6 per cent of GDP by April 2027, including spending on intelligence agencies.\u00a0NHS spending would increase by an extra \u00a329bn per year.<\/p>\n<\/p>\n<p>Spending on nuclear power infrastructure will rise to \u00a330bn, including <a href=\"https:\/\/www.cityam.com\/green-light-for-sizewell-c-as-14-2bn-to-go-to-major-nuclear-project-as-part-of-spending-review\/\" target=\"_blank\" rel=\"noreferrer noopener\">giving the green light to the \u00a314bn Sizewell C nuclear power plant<\/a> and spending on the Rolls Royce Small Modular Reactor (SMR) scheme, because it is the \u201cright choice\u201d for bills, jobs and growth.\u00a0<\/p>\n<p>Reeves also unveiled \u201cthe biggest cash injection into social and affordable housing in 50 years\u201d with \u00a329bn over the next decade, and confirmed <a href=\"https:\/\/www.cityam.com\/spending-review-biggest-winners-and-losers-in-transport-and-infrastructure\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a315bn in spending for regional rail and tram travel<\/a>.<\/p>\n<p>\u00a352bn will be allocated to budgets in Scotland, \u00a320bn for Northern Ireland and \u00a323bn for Wales.<\/p>\n<p>\u00a3190bn spending surge <\/p>\n<p>The Spending Review also included \u00a37bn to fund 14,000 new prison places, and \u00a3700m per year to go towards reforming the probation system. Police spending power will be increased by an average 2.3 per cent per year in real terms over the Spending Review period.<\/p>\n<p>\t\t\t\t\tRead more<\/p>\n<p>\t\t\t<a class=\"read-more__link\" href=\"https:\/\/www.cityam.com\/reeves-wont-rule-out-extending-income-tax-threshold-freeze\/\" target=\"_blank\" rel=\"noopener\">Reeves won\u2019t rule out extending income tax threshold freeze<\/a><\/p>\n<p>\u201cMy driving purpose since I became chancellor is to make working people in all parts of our country better off. To rebuild our school and our hospitals, to invest in our economy so that everybody has the opportunity to succeed after 14 years of mismanagement and decline by the party opposite,\u201d Reeves said.<\/p>\n<p>\u201cWe are starting to see the results,\u201d the Chancellor said, adding that the \u201cstability we have provided\u201d has helped support four cuts in interest rates.<\/p>\n<\/p>\n<p>In total, there would be an extra \u00a3190bn more to the day-to-day running of public services over the course of the parliament.<\/p>\n<p>Gilt yields fell following the publication of the Spending Review in an apparent vote of confidence in the Chancellor\u2019s plans by markets, while the pound hovered around $1.35.<\/p>\n<p>Stephen Millard, interim director of the National Institute of Economic and Social Research, said: \u201cThe Chancellor has yet again said that her fiscal rules are \u2018non-negotiable\u2019.\u00a0<\/p>\n<p>\u201cBut 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.\u201d<\/p>\n<p>\t\t\t\t\tRead more<\/p>\n<p>\t\t\t<a class=\"read-more__link\" href=\"https:\/\/www.cityam.com\/deutsche-bank-10bn-of-tax-hikes-coming-in-autumn-budget\/\" target=\"_blank\" rel=\"noopener\">Deutsche Bank: \u00a310bn of tax hikes coming in Autumn Budget<\/a><\/p>\n<p>\t\tSimilarly tagged content: <\/p>\n<p>\t\t\tSections\t\t<\/p>\n<p>\t\t\tCategories\t\t<\/p>\n<p>\t\t\tPeople &amp; Organisations\t\t<\/p>\n<p>\t\t\tRelated Topics\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Wednesday 11 June 2025 1:19 pm \u00a0|\u00a0\u00a0Updated:\u00a0 Wednesday 11 June 2025 1:57 pm By: Simon Hunt and Fonie&hellip;\n","protected":false},"author":2,"featured_media":175762,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4316],"tags":[105,4348,16,15],"class_list":{"0":"post-175761","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-healthcare","8":"tag-health","9":"tag-healthcare","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114664983485020759","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/175761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=175761"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/175761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/175762"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=175761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=175761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=175761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}