Member of Parliament for Windsor, Jack Rankin, has reacted to Chancellor Rachel Reeves’ Spending Review today.
The announcement saw overall departmental spending increase by 2.3% per year until 2028-29, with a full breakdown available here.
The increases in government spending take place against the backdrop of:
- Rising inflation – the Consumer Price Index rose by 3.5% in the 12 months to April 2025, up from 2.4% in the 12 months to March. (Source: ONS).
- Rising unemployment – the unemployment rate has risen again, with over 250,000 jobs lost since the autumn budget. (Source: ONS)
- Reduced GDP growth – it has fallen from 1.4% in Q1/Q2 2024 to 0.8% in Q4 2024/Q1 2025. (Source: ONS)
- Rising borrowing – borrowing costs have increased over the past 12 months from 4.689% to 5.350%, according to MarketWatch.
- Rising debt – Public sector national debt has risen by 0.7% from July 2024 to June 2025. (Source: OBR)
Jack Rankin MP said:
“The Chancellor should be fixing the mess she created with her budget last year.
“That’s not to mention Labour’s £30 billion Chagos surrender, £9 billion in pay rises thrown at the bloated, unreformed public sector at the demands of their union paymasters, or Ed Miliband’s billions for unilateral deindustrialisation by driving up energy bills.
“Rachel Reeves has set to the same Labour default we’ve seen time and again – high spending which will mean more borrowing and higher taxes.
“All the while, our economy is left vulnerable by her ‘spend today, tax tomorrow’ mindset.
“As the Chancellor herself says: ‘These are Labour choices’”
