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  • 11/06/2025
Rachel Reeves said coalition austerity was a “destructive choice” as she unveiled her spending review. Departmental budgets will rise by 2.3% a year in real terms, she told MPs. Reeves said Labour’s plans are only possible due to “economic stability” under her fiscal rules, accusing the Tories of choking growth and creating a “lost decade” for wages.
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00:00In this spending review, total departmental budgets will grow by 2.3 per cent a year in
00:06real terms.
00:08Compare that to the Conservative choice of austerity.
00:13In contrast to our increase of 2.3 per cent, they cut spending by 2.9 per cent per year
00:21in 2010.
00:23So let's be clear, austerity was a destructive choice for the fabric of our society, and
00:30it was a destructive choice for our economy too, shaking off investment and demand, creating
00:36a lost decade for growth, wages and living standards.
00:41That is their legacy.
00:44My choices are different.
00:46My choices are Labour choices.
00:49The choices in this spending review that are only possible because of my commitment
00:56to economic stability and to the decisions that this Government has made.
01:02The Conservatives' fiscal rules guaranteed neither stability nor investment, and that
01:08is why I changed them.
01:11My fiscal rules are non-negotiable, and they are the foundation of stability and of investment.
01:17It is definitely there.
01:19Please listen.
01:21Good mood.
01:21Good mood.
01:22Good Force.
01:23Good good audience.
01:24Very good audience.
01:25Good audience.
01:25Hello, everyone.
01:26Good audience.
01:27Good audience.
01:28Good audience.
01:29Good audience.
01:31pamięta learning.
01:31Good audience.
01:32Active audience.
01:33Sownako.
01:33Good audience.

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