Where will Rachel Reeves splash the cash?
One of the biggest winners of Wednesday’s Spending Review is expected to be the science and technology sector, which will get an £86billion package of funding into research areas, including into new drug treatments and longer-lasting batteries.
The health service is also expected to be a big winner, with a 2.8% hike to the Department of Health’s annual budget – amounting to around £30billion in additional funding by 2028/29. The Mirror understands schools will also get a major boost to per pupil funding, with £4.5billion extra for the core schools budget. This includes a major expansion of free school meals to 500,000 more pupils.
The Ministry of Justice, which was one of the first departments to settle its budget, will see a £4.7billion funding injection to build three new prisons amid an ongoing overcrowding crisis in jails. The Ministry of Defence also already had a clearer idea of its funding settlement, with the PM having earlier this year announced plans to increase defence spending to 2.5% of GDP by 2027, with an aim to get it to 3% by 2034.
Some £15.6billion will also be handed to mayors for major transport projects across the country. This will go towards plans to improve trams, trains and buses in the North and the Midlands.
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