Wed, 11 Jun 2025

Wed, 11 Jun 2025 Faisal Islam: This is not a quick fix, but that's the point

The measures announced in the Spending Review will not instantly transform the economy.

* Rachel Reeves prioritized long-term investment over day-to-day spending in this year's Spending Review
* Some funding will be allocated to the Midlands and North of England, rather than London
* Chancellor chose to funnel more money towards health care
* Long-term investments include railways, new nuclear plants, and subsidized social housing, but these won't come online for several years
* The government is counting on a return to economic growth to make their plans credible in later years
* Achieving this will require confidence and vision from the private sector as well
* The Scottish government says some pensioners may be worse off under the new plan than those in England and Wales
* Research backers are calling for a long-term plan for science and innovation
* The total spend is enormous, but some fear it could be "painful" for certain groups.
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