George Welcomes Commitments in Spending Review for Investment

George Eustice, Member of Parliament for Camborne, Redruth and Hayle has welcomed the Chancellors recent Spending Review that commits billions of pounds to help tackle coronavirus next year and £100 billion in capital spending to help drive the UK’s recovery and support jobs as we build back better from the Pandemic.

The Chancellor announced this week that his immediate priority was to protect people’s lives and livelihoods as the country continues to battle the outbreak - allocating £55 billion to tackle the virus next year.

The statement set out how the government would deliver stronger public services – honouring the promises it made to the British people with core day-to-day departmental spending growing by £14.8 billion in cash terms next year compared to 2020/21.

The Chancellor also announced how the government would deliver the next stages of its record investment plans in infrastructure to drive the UK’s recovery and level up for a greener, stronger future with £100 billion of capital spending next year and a £4 billion Levelling Up Fund.

In addition, the Government has committed that total domestic UK-wide funding will at least match EU receipts, on average reaching around £1.5 billion a year. This will help local areas prepare over 2021-22 for the introduction of the UK Shared Prosperity Fund, we will provide additional UK funding to support our communities to pilot programmes and new approaches.

George said, “While are still fighting the Coronavirus Pandemic, the seismic economic impacts are only just beginning. The Government’s spending review tackles this situation head-on – ensuring we protect jobs, the economy and continue to build back better and greener from the Pandemic.

“The Spending Review shows the government is delivering on priorities of the British people by investing and boosting growth in what has been a difficult year”.

Chancellor of the Exchequer, Rishi Sunak MP added, “today’s Spending Review also delivers stronger public services - paying for new hospitals, better schools and safer streets. And it delivers a once-in-a-generation transformation in our approach to infrastructure. Creating jobs, growing the economy, and increasing pride in the places people call home.”

As part of the Government’s commitments to fund the nation’s priorities, the Spending Review confirmed:

1. A further £55 million to help with our response to coronavirus – including £18 billion for mass testing, Test and Trace, PPE and vaccines, and £3 billion to support NHS recovery.
2. A funding boost for the NHS. Next year, the health budget will grow by £6.6 billion, allowing us to deliver 50,000 more nurses and 50 million more GP appointments. We investing in new technologies, building 40 new hospitals, upgrading 70 more and replacing the vast majority of ageing diagnostic equipment.
3. More money for schools, meaning every pupil in the country will see a year-on-year funding increase of at least 2 per cent. We are also funding our commitment to rebuilding 500 schools over the next decade and are providing £375 million to deliver the Prime Minister’s Lifetime Skills Guarantee.
4. £400 million to recruit 6,000 new police officers – meaning we are on track to meet our manifesto pledge to recruit 20,000 more police officers by 2023.
5. More than £24 billion investment in defence – the biggest sustained increase in 30 years – allowing us to provide security not just for our country but around the world.
6. An increase in core spending power for local authorities by an estimated 4.5 per cent, along with over £3 billion of additional coronavirus support and an extra £254 million of funding to tackle homelessness and rough sleeping.
7. Capital spending of £100 billion next year, meaning vital investment in roads, rail, hospitals, schools, broadband and housing.
8. A new Levelling Up Fund, worth £4 billion in England and £800 million in Scotland, Wales and Northern Ireland, to build the infrastructure of everyday life.
9. A new National Infrastructure Strategy, and a new UK infrastructure bank - headquartered in the north of England - to work with the private sector to finance major new investment projects across the UK.
10. Support for every country across the United Kingdom, increasing Scottish Government funding by £2.4 billion, Welsh Government funding by £1.3 billion, and £900 million for the Northern Ireland Executive.

George has written more about the future recovery from the impacts of the Coronavirus Pandemic, you can READ MORE HERE.