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Billions to be spent on regional transport but government 'can't do everything it wants to', says Reeves
Rachel Reeves has said £15.6bn will go towards regional transport projects in next week's spending review, but there are other "good things" she's had to say no to.
The chancellor said the cash marks the "biggest ever investment" by a British government in transport links outside of London and the southeast, with mayors to receive the funding directly to be spent on train stations, trams, and bus routes. Politics Live: PM under fire for 'disgraceful' PMQs performance Ms Reeves was speaking in Manchester ahead of laying out her departmental spending plans for future years on 11 June, a process known as a spending review.
She said that tax hikes and changes to the way borrowing for investment is accounted for meant £300bn extra is available over the coming years. But she warned: "Does that mean that we'll be able to do everything that we want to do? No...there are good things that I've had to say no to." She insisted this was not because of her self-imposed "fiscal rules" but because "of 14 years of Conservative maltreatment of our public services, our public realm, and of our economy".
The fiscal rules, which include a promise to match day-to-day spending with revenues rather than borrowing, meant Ms Reeves had to make cuts in her spring statement to balance the books, and there is speculation more are to come. The chancellor did not say what departments could face a squeeze next week, but insisted spending on police will increase following concerns from police chiefs about their budgets.
She said transport was being prioritised because a lack of infrastructure outside of London puts England's other cities "at a disadvantage compared to their European counterparts.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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