Reeves’s spending review was big on the long term but light on the everyday

Her capital-heavy approach will fuel pressure for commitments that make a more immediate difference to people’s lives

Spending review 2025: key points at a glance

UK politics live – latest updates

Blackpool, Cardiff, Teesside, Kirkcaldy: Rachel Reeves’s spending review speech was peppered with more regional shout-outs than a drive-time radio show.

Changing her fiscal rules in the autumn freed up £113bn for extra capital investment over five years by allowing the Treasury to net off financial assets against its debts.