Reeves to invest in 'renewal' as she unveils plans for spending

RACHEL Reeves will vow to "invest in Britain’s renewal" as she reveals her spending plans for the coming years today.

- CHRISTOPHER McKEON

The Chancellor is expected to announce big increases in spending on the NHS, defence and schools as part of a spending review set to include £113bn of investment thanks to looser borrowing rules.

She will also reveal changes to the Treasury's “green book” rules that govern which projects receive investment in an effort to boost spending outside London and the South East.

Arguing that this investment is “possible only because of the stability I have introduced” after the October budget, Ms Reeves is expected to say her spending review will “ensure that renewal is felt in people’s everyday lives, their jobs, their communities”.

She will say: “The priorities in this spending review are the priorities of working people.

“To invest in our country’s security, health and economy so working people all over our country are better off.”

Among the other announcements expected at the spending review is £39bn for affordable homes over the next 10 years as the UK Government seeks to meet its promise of building 1.5 million homes by the next election.