British Chancellor Rachel Reeves laid out how her government intends to allocate more than £2 trillion ($2.7 trillion) in public spending during a major speech on Wednesday, outlining a vision

aimed at driving national renewal and long-term stability.

A vision for renewal

“We are renewing Britain,” Reeves declared. “But I know that too many people, in too many parts of our country, are yet to feel it. The goal of this government—and the purpose of this spending review—is to change that.”

Departmental budgets on the rise

Reeves confirmed that total departmental budgets will increase by 2.3% per year in real terms. She emphasized her commitment to stability and continuity, stating, “As outlined in the Spring Budget, I’m allocating an additional £190 billion over the spending review period for the day-to-day running of public services—£190 billion more than the previous government's plans.”

Acknowledging tough challenges

Reeves also addressed the broader global and domestic context, noting that the landscape has grown more uncertain since her Spring Statement. “The world is changing before our eyes,” she said. “The signs of our age of insecurity are everywhere. That’s why we’re delivering on our Plan for Change—building renewal on the foundations of national security, border security, and economic security.” Photo by Lauren Hurley / No 10 Downing Street, Wikimedia commons.