Chancellor Rachel Reeves is set to present a Spending Review outlining government expenditure targets of approximately £1.4 trillion for 2026-27, rising to £1.5 trillion by 2028-29. Despite the lack of a budget announcement, her presentation will focus on public service allocations and could spark debates about future tax increases. Reeves aims to present a clear narrative of 'renewal' that resonates with citizens, highlighting her commitment to stability, investment, and addressing people's everyday needs, particularly in healthcare and job security. Capital spending has seen some good news due to changes in fiscal rules permitting more infrastructure borrowing.
Reeves emphasized that the Spending Review's purpose is to ensure people feel the effects of renewal in their daily lives, jobs, and communities.
In place of chaos, I choose stability... These are my choices, the government's choices, and the British people's choices.
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