ON HER SPENDING REVIEW PLANS

There is no time to waste ...I want people to see lives improve

- BY LIZZY BUCHAN

RACHEL Reeves will pour money into the NHS, schools, security and fire up the economy as she hit back at fears of fresh austerity for cash-strapped public services.

She said there was “no time to waste” in improving people's lives after a decade of Tory misrule.

The health service is expected to be the big winner in this week’s spending review, with a 2.8% hike to the annual budget around £30billion extra funding by 2028/29.

We understand schools will also get a major boost to per-pupil funding, with £4.5bn extra for the core schools budget.

But other vital services will feel the squeeze, with painful cuts expected in areas like local government and policing.

This Wednesday the Chancellor will spell out how much cash will be allocated for day-to-day budgets over the next three years.

Speaking in her Leeds West and Pudsey constituency, she said: “This is a far cry from what you would have had if youd had another five years of the Conservatives — £300bn above that.

“Under our plan, spending will increase every year in this Parliament.

“I tell you what austerity is, it’s what George Osborne did, where spending fell by 2% every year when he was Chancellor and [David] Cameron was Prime Minister.

“Spending will grow at close to 2% every year under the plans I will lay out”

There will be a £190bn increase in funding for day-to-day spending over the period, funded partly by tax hikes in the Budget in the autumn.

A shake-up of borrowing rules has freed up around £113bn for capital investment for big-ticket items like homes, transport and energy projects.