Chancellor Rachel Reeves has delivered her first spending review in the House of Commons, giving an indication of the government’s priorities and direction of travel until the end of the current decade. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00The Cabinet met in Downing Street this morning, a day later than usual, to coincide with the Chancellor's spending review.
00:08This sets the budgets for government departments across Whitehall for the coming years,
00:13and has left some ministers feeling much happier than others.
00:16Are you getting off the NHS?
00:18It's a great spending review.
00:19Health Secretary Wes Streeting had good reason to be pleased with Rachel Reeve's spending commitments.
00:24The NHS will receive an extra £30 billion of funding over the next three years, a rise of around 2.8% in real terms.
00:33Two funding commitments had already been announced in the days before the review,
00:37the restoration of winter fuel payments for pensioners, and a multi-billion-pound investment in nuclear energy.
00:44Today is not a budget day, so there was no red box photo-op for Rachel Reeves outside number 11,
00:50but the choices she makes in this spending review will shape the country's direction of travel until 2029.
00:57Rachel Reeves!
00:58Yeah!
00:59She was in a bullion's mood as she took her place at the dispatch box.
01:03In this spending review, total departmental budgets will grow by 2.3% a year in real terms.
01:11Compare that to the Conservative choice of austerity.
01:15In contrast to our increase of 2.3%, they cut spending by 2.9% per year in 2010.
01:25The Chancellor confirmed defence spending will increase to 2.6% of GDP by April 2027,
01:32as the government inches closer to its target of 3%.
01:36A new era in the threats that we face demands a new era for defence and security.
01:43That's why we took the decision to prioritise our defence spending by reducing overseas development aid,
01:50so that defence spending will now rise to 2.6% of GDP by April 2027,
01:57including the contribution of our intelligence agencies.
02:00£39 billion will be made available for social and affordable housing over the next decade,
02:06as the government hopes to meet its target of building 1.5 million new homes by the next election.
02:12£15.6 billion has been set aside for public transport projects in England's city regions,
02:18plus £445 million for Wales' railways and a further £3.5 billion of investment
02:26to upgrade the Trans-Pennine Rail route that links York, Leeds and Manchester.
02:31And day-to-day funding for schools will increase by £4.5 billion a year.
02:36Last week, this government announced that free school meals will be extended to over half a million more children.
02:45That policy alone will lift 100,000 children out of poverty.
02:49And because I know that a good start in life does not just start at school,
02:54I can also announce £370 million for school-based nurseries.
02:59Immigration remains a hot topic of debate,
03:02and the Chancellor has had long negotiations with Home Secretary Yvette Cooper.
03:06Today, the Home Office got this.
03:08The party opposite left behind a broken system.
03:12Billions of pounds of taxpayers' money spent on housing asylum seekers in hotels,
03:18leaving people in limbo and shunting the cost of failure onto local communities.
03:24We won't let that stand.
03:26So I can confirm today that, led by the work of my Right Honourable Friend, the Home Secretary,
03:32we will be ending the costly use of hotels to house asylum seekers in this Parliament.
03:39Big spending commitments then, but the Conservatives claim the numbers just don't add up.
03:44This spending review is not worth the paper that it is written on.
03:49Because the Chancellor has completely lost control.
03:55This is the spend now, tax later review.
04:00Because the Right Honourable Lady knows she will need to come back here in the autumn with yet more taxes.
04:07The Institute for Fiscal Studies says Rachel Reeve's spending review
04:11could be one of the most significant domestic policy events of this Parliament.
04:16Increasing spending, capital spending, particularly on things like infrastructure and energy,
04:20should be good for growth, but in the long run.
04:24And this is why I think it's very good that we've got a government focusing on things that will help the economy,
04:30you know, probably mostly after the next election.
04:33So it's politically a brave thing to do and the right thing to do,
04:37but we won't really reap the rewards for some time to come, but the rewards will be there.
04:42Today's announcements are a big moment for the Chancellor and for the first Labour government in almost a generation.
04:48But ministers know they will be judged not just on whether these promises can be delivered,
04:53but also on whether people will actually feel better off as a result.
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05:04Thanks.
05:05Have a questions asked.
05:06Thank you all.
05:07Thanks.
05:08So far too.
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