UK spending review: Will Reeves prioritise NHS, defence or local transport?
The government has made its biggest spending announcement since Labour’s drubbing at the local elections in May, with a pledge from Chancellor Rachel Reeves to double investment in local transport over the next five years, with a £15.6bn cash injection. Additionally, just a month after Labour and the Tories alike received a comprehensive drubbing from Reform at the local elections, Keir Starmer will be hoping that this cash injection will help win back crucial support in Labour’s 2024 heartlands. The prime minister has also vowed to increase UK defence spending to 2.5 per cent of GDP, though experts say he should commit to 3 if he is serious about being “battle-ready.” And the Institute of Fiscal Studies announced that they expect the NHS to grab a major share of spending, with the Department for Health having the highest day-to-day costs. Read more of the story here 👇 https://www.cityam.com/spending-review-rachel-reeves-pledges-15-6bn-for-regional-transport/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Fonie Mitsopoulou, Matt Kenyon, Joseph Curay Teneda, Emmanuel Nwosu