Labour chancellor Rachel Reeves MP has announced her major spending review and set out a direction of travel for her government aiming to restore our public services , make working people better off and investing in Britain’s renewal.She says “I made choices that reflect our values – Labour values. Choices that put working people first. Because from day one, my mission has been clear: to create jobs and make working people, in all parts of our country, better off. After 14 years of Tory failure, we had to start by fixing the foundations. Now we’re turning a corner”
Highlights of today’s spending review are set against a backdrop of an economy moving forward. Reeves stated;-
- Interest rates have been cut four times – a cost-of-living boost for every single person in Britain with a mortgage.
- Real wages have grown more in the first ten months of this Labour Government than in the first ten years of Tory rule.
- We are the fastest growing major economy, striking trade deals with India, America and the European Union, as countries line up to do business with the UK once again.
Economy – we’re rolling out investments and projects that will produce jobs, prosperity and put more money in the pockets of people across the country – free school meals for half a million more children, bus fares capped at £3, a record £39 billion for a new Affordable Homes Programme, and more. Because I believe Britain’s renewal must be a truly national endeavour.
Health – the British people voted for an NHS fit for the future and that’s what they’ll get. Today I announced a record investment in the health service – an additional £29 billion a year for more appointments, more doctors and more equipment.
Security – we’re investing to create thousands of new, high skilled jobs in energy, infrastructure and Artificial Intelligence. We’re keeping our country safe, with the biggest sustained increase in defence spending since the Cold War to back our armed forces and create British jobs in British industries.
Response from Labour sources in Somerset were positive
Cllr Tim Mander, Chair of Bridgwater Constituency Labour Party, said “Some great news for Bridgwater here as the investment in affordable housing is long overdue and welcome. Too many local people have been priced out of housing with the cost of private rents spiralling. I would anticipate the investment in new schools will fund the rebuilding of Haygrove School which will be a big plus for the West side of Town”
Cllr Kathy Pearce, Deputy Leader of Bridgwater Town Council, added “A welcome spending review with major investment, in particular, in funding every day services for health and education, which should cut waiting times and give our children a better chance in life. Major capital expenditure projects should boost the economy”
Cllr Jacqui Solomon, Vice chair of Bridgwater Town Councils Finance Ctte said “The 39bn boost to affordable housing should prevent house builders from reneging on their commitments on major building projects. This should support younger people in their efforts to purchase their own homes especially as interest rates continue to fall. Many of these policies will require patience to reach their potential, but a relief after 14 years of reflex, short termism that we suffered under the last administration.”
Cllr Julian Taylor (North Petherton) said “Steve Reed’s department will see a large increase in funding for flood defences. The biggest win for the department was a large boost in flood defence funding – about £1.4bn each year and a 5% increase compared to the current period. There will also be increased cash in nature recovery and an overall budget of £7bn for schemes like environmental farming, peatlands and tree planting.Lets hope that some of this money comes to protect our levels. This is the first good news since the 2014 Austerity created flooding on our levels in Moorland and Fordgate.”
Vital Step Forward
Cllr Leigh Redman, Leader of the Labour Group on Somerset Council said “As a Labour local government leader & leader of the Labour group on Somerset Council, I wholeheartedly welcome today’s Spending Review announcement. This is a vital step forward for our communities, providing the investment and certainty councils need to deliver essential services and drive local growth. After years of underfunding from the previous government, this government’s commitment to supporting local authorities and our communities will make a real difference on the ground. It means we can better protect our most vulnerable residents, invest in our high streets, and deliver the cleaner, safer neighbourhoods our residents deserve.I look forward to working with colleagues here in Somerset and across the country to ensure these resources are used effectively and efficiently, building a fairer future for all. Today’s announcement shows that Labour in government is listening to local voices and putting communities first.”
Gains for working people
Cllr Brian Smedley, Leader of Labour run Bridgwater Town Council said “The pressure from below to refocus on real Labour policies seems to have hit home and some real gains for working people are now on the cards. The NHS is at the top of the list, Education, Transport, Housing and Policing. It’s been a long 14 years of Tory austerity and it’s clear that this government needs at least 2 terms of office to undo all that and see the real change that people have been expecting. Defence is also high on the list, which, sadly, reflects the world we live in just now. However, maybe we can put a bit more effort into sorting out the major international issues in the world and then get back to spending money to sustain life and not destroy it.”