In last week’s Spring Statement, the Chancellor of the Exchequer outlined measures that will boost our economy, increase national security and raise living standards for those in Newcastle North and across the country.
The Chancellor highlighted that the Office for Budget Responsibility (OBR) has stated that people will be on average £500 a year better off from 2029.
The OBR has also concluded that the Government’s landmark planning reforms will result in a £6.8 billion boost to the economy and UK housebuilding will reach its highest level in over 40 years. The reforms will deliver on Labour’s Plan for Change, increase the number of jobs available and secure over 170,000 new homes for families.
Alongside this, the Chancellor confirmed that over this Parliament, the Government will fund a £625 million package to boost skills in the construction sector – providing up to 60,000 jobs and supporting Labour’s manifesto pledge to deliver 1.5 million homes in England.
Indeed, the Government is committed to helping those who are able to work find employment and will invest £1.4 billion into programmes which support people back into work. The Chancellor also set out that the reforms to the welfare sector announced earlier this month will make the benefits system more targeted and sustainable to ensure the most vulnerable are supported.
Alongside these measures, the Chancellor set out that the Government will increase the defence budget by £2.2 billion in 2025-26 to address growing international threats. This shows Labour’s commitment to increasing our national security and grasping the potential growth of the UK’s defence sector.
Catherine commented:
“We are living in a time where the world is constantly changing. I know that some difficult decisions on spending have been made recently, but this is essential to deliver on our Plan for Change so that every person throughout the country has the opportunity to achieve and thrive.
“I therefore welcome the Chancellor’s Spring Statement, and the growth and security that our reforms will bring to families in Newcastle North and across the UK.”
