Chancellor Rachel Reeves is set to announce the government’s spending review, a significant step for the Labour government ahead of the next election, which will outline departmental budgets and priorities. While defence and health are expected to be protected from cuts, some departments will face real-terms reductions, and Reeves will introduce a £113bn borrowing-fuelled spending plan for capital projects, including a notable £39bn allocated for affordable housing over the next decade, marking a major investment boost in this sector.
