It's the first Labour budget in 14 years
The Chancellor will make a series of announcements about taxes and spending in her first Autumn statement since Labour's landslide election victory in July. Soon after taking office, Ms Reeves accused the Tories of leaving a £22bn 'black hole' in the public finances.
“Any chancellor standing here today would face this reality, and any responsible chancellor would take action. That is why today, I am restoring stability to our public finances and rebuilding our public services.”, opening the door for the government to spend billions of pounds more on infrastructure, such as railways, roads, hospitals and new prisons. Of the projects that could benefit from the extra cash isBillions of pounds are also expected to be announced for the NHS, schools and housing.
"Ramping up restrictions won’t help support more disabled people into work, it will only make their lives harder. The Work Capability Assessment is degrading and stressful and change is desperately needed. “Investment to reduce child poverty is investment in our future. If the government wants a successful society and a successful economy, they must address poverty head on.”Hirra Khan Adeogun, Co-Director of the climate charity Possible, said: “Freezing fuel duty is completely the wrong thing to do, and it’s extraordinary to see the Chancellor preserve a Conservative policy which has endured for fourteen years.
"But please don't rest on your laurels. Let’s build the first-ever road-user transport strategy that benefits the economy without your party’s false and emotional, scientifically baseless belief that the UK is the only country to save the planet and the motorist is to blame for all the environmental ills.
Rachel Reeves says that the government will also reduce Right to Buy discounts, allowing local authorities to retain the full receipts from any sales of council houses so that they can be reinvested in the social housing stock.The Chancellor told MPs: “I said there would be no return to austerity, and that is the choice I have made today.
“The result is clear for all to see: hospitals without the equipment they need, school buildings not fit for our children, a desperate lack of affordable housing, economic growth held back at every turn. Under the plans I inherited, public investment was set to fall from 2.5% to 1.7% of GDP, but in Washington last week, the International Monetary Fund were clear: more public investment is badly needed in the UK.
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