Chancellor Rachel Reeves is poised to present a comprehensive spending review on Wednesday, detailing the financial allocations for the National Health Service (NHS), schools, police, and other essential public services over the next several years. Reeves’s plan includes an additional investment of £113 billion in critical infrastructure projects, encompassing energy and transportation initiatives.
Schwerwiegende Haushaltsbeschränkungen erwartet
Obwohl der Schwerpunkt auf Investitionen liegt, könnte es in mehreren Ministerien zu realen Haushaltskürzungen kommen, da Reeves der Finanzierung von Gesundheit und Verteidigung Priorität einräumt. Die Überprüfung zielt darauf ab, die öffentlichen Ausgaben bis zu den nächsten Parlamentswahlen, die für 2029 erwartet werden, zu steuern, und wird die täglichen Ausgaben für die nächsten drei Jahre sowie die Investitionsbudgets für vier Jahre beschreiben.
Tensions have run high among ministers during recent negotiations concerning departmental funding. Home Secretary Yvette Cooper recently finalized a deal, following calls for increased funding from police chiefs, while Housing Secretary Angela Rayner secured an agreement on Sunday. Her department is projected to receive £39 billion aimed at enhancing social and affordable housing within the next decade. “This investment will assist in achieving our goal of building 1.5 million new homes by 2030,” stated a government source. Furthermore, the Chancellor is expected to extend the current £3 cap on bus fares across England until March 2027.
In a previous address, Reeves noted that she had declined additional funding requests from ministers, attributing the financing squeeze to “economic reality.” The government’s spending plans face significant pressures due to sluggish economic growth, elevated borrowing costs, and global economic instability. Last autumn, Reeves had also unveiled tax increases totaling £40 billion, primarily to bolster the NHS and other public services.
Haushaltsentscheidungen und Auswirkungen
The Chancellor is expected to claim that her spending framework is feasible due to the stability established under her leadership. However, the Institute for Fiscal Studies (IFS) has warned that difficult choices lie ahead, with potential cuts to some departments when factoring in rising costs. According to the IFS, determining the NHS’s budget could be “one of the most consequential decisions” of this spending review. The Department of Health and Social Care’s (DHSC) routine budget is slated to reach £202 billion by 2025–26, accounting for approximately 39% of all day-to-day departmental spending.
The IFS cautioned that significant increases in NHS funding could necessitate either reductions in other departments’ budgets or further tax increases anticipated in the forthcoming autumn budget.
Wirtschaftsstrategie und -kritik
Amidst mounting pressure, the Chancellor has resisted suggestions—some originating from her party’s own MPs—to ease her borrowing restrictions or to impose higher taxes. Reeves has instituted self-imposed standards requiring government operational expenses to be funded solely through tax revenue, rather than borrowing, while also insisting on reducing national debt relative to income over a five-year timeline. Despite raising business taxes by increasing employer National Insurance contributions, she has maintained Labour’s commitment not to increase income tax, National Insurance, or VAT.
“I have made my choices. In place of chaos, I choose stability. In place of decline, I choose investment. In place of retreat, I choose national renewal,” Reeves is expected to declare. Her speech will also highlight vital infrastructure investments, including £14 billion towards the Sizewell C nuclear power plant and £15.6 billion for local transport projects. She intends to emphasize that the priorities reflected in this Spending Review align with the needs of working citizens in the UK.
Politische Reaktionen
Reactions to the forthcoming spending plan have been mixed. Conservative Shadow Chancellor Mel Stride accused the Labour government of “spending money it doesn’t have, with no credible plan to pay for it,” suggesting this implies increased borrowing, debt, and future tax increases. “Don’t be fooled. We can’t afford Labour,” he asserted.
Conversely, the Liberal Democrats have urged the government to take immediate measures to stimulate economic growth to prevent any cuts to public services. Liberal Democrat Treasury spokesperson Daisy Cooper criticized the government for jeopardizing public service reforms. “From social care to neighborhood policing, this Labour government is at risk of failing to deliver the change that people were promised,” she stated.
Die Auswirkungen der Ausgabenüberprüfung auf die öffentlichen Dienstleistungen und die wirtschaftliche Stabilität sind noch nicht vollständig absehbar, und die Beteiligten aus verschiedenen Sektoren beobachten die Situation genau.
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