Rachel Reeves Unveils Comprehensive Multi-Year Spending Plan
British finance minister Rachel Reeves announced a multi-year financial plan allocating over £2 trillion across various sectors until 2029. Key areas include record NHS funding, affordable housing, increased border security, defence, and nuclear power investment. The plan also supports research, regional development, and police enhancements.
On Wednesday, British finance minister Rachel Reeves outlined an extensive multi-year spending review, distributing over £2 trillion to ministerial departments with set budgets running through to 2029.
The ambitious plan promises a 2.3% real-term growth in departmental budgets. Noteworthy allocations include £29 billion annually for the National Health Service, heralded as a 'record cash investment', and a further £10 billion to boost affordable housing projects.
Additional funding targets border security, with £280 million annually, while defence expenditure will reach 2.6% of GDP by 2027. The plan also fosters research and development, energy projects, and regional infrastructure with billions earmarked for economic advancement.
(With inputs from agencies.)
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