Today the Chancellor announced her Spending Review which covers the major areas of spending over the next 10 years. This review marked a break from Austerity. The Labour Government are investing in our country because we know that that to live in a positive and green future, we must build it. To do that we have to invest in our communities, the health and education of those that live there and the major infrastructure that allows for us all to interact with one another. That’s why I’m particularly proud the Chancellor announced funding in each of these core areas: Health, Security, and Communities and Housing.
During the election I spoke to thousands of people who told me time and again that their primary concern was the NHS. They value the incredible contribution members of staff make daily but knew deep down, despite that incredible hard work, services were getting worse across the country. That’s why last Autumn the Chancellor announced an initial investment of £22bn and over the past few months we’ve seen that initial investment and Labour leadership begin to deliver, with 3 million extra appointments, over 1,000 GPs hired and waiting lists reduced by over 200,000. However, there is still much more to do and that’s why the Chancellor has announced a consistent 3% rise per year for the NHS budget, worth an extra £29bn per year. This investment will help us deliver more appointments, bring waiting lists down further and transform care away from hospitals toward the community.
Keeping us safe from illness, disease and aiding us in recovery may be one element of government but another is to protect people from several competing threats which is why we’ve made major investments in British Security. Defence spending is due to rise to 2.6% in 2027 which allows us to invest in British manufacturing and hard power to deter threats and protect ourselves and our allies. A boost of £30bn for Nuclear Power, alongside Great British Energy to improve domestic power production and protect against shocks to the energy market. Security has moved beyond armies, fleets and airpower and we’re ensuring our energy marker is insulated from international shocks like Russia’s invasion of Ukraine which spiked energy prices across the UK. I know this forced many businesses and individuals into difficult budgetary decisions and am glad the government is investing further in our Energy Security. Moreover, we’re investing over £15bn in Infrastructure projects and will use British Steel to do so, bolstering economic growth and a key national industry.
To be healthy and safe, we also need to be able to live in warm and well-built homes. The government have announced the largest investment in our Housing stock in 50 years. These measures include £39bn of investment in Affordable homes so we can get people the homes they deserve, a £10bn expansion of Homes England to invest in new social housing stock and an expanded Warm Homes scheme, to upgrade existing housing and make them fit for the future. Combined, these measures will allow the government to deliver the homes people across the country desperately need. Indeed, the Chancellor drew attention to the Heart of Swindon plan, designed to reinvigorate Swindon’s town centre and provide accompanying accommodation. I am incredibly proud that the Chancellor revealed a new £20m scheme to reinvest in existing communities, a key trailblazer of which is Penhill. The investments will support improvements that people in Penhill can feel and I’m excited to see this develop in the coming months.
Today the Chancellor closed the door on the low investment that led to the insecurity we’ve all felt this past decade and set out how we will build a prosperous future for our country. The Labour government are the government that will deliver security for the British people, Security of Health, Security of Defence, Security of Energy, and Security of Home.