What did Rachel Reeves announce in the Spending Review?

Chancellor Rachel Reeves announced budget increases for some departments, including a £29 billion annual injection for the NHS, but others will see cuts. What was announced in the Labour Spending Review, and what does it mean for your money?

Rachel Reeves on Spending Review background
(Image credit: Bloomberg via Getty Images)

After weeks of jostling with ministers, chancellor Rachel Reeves unveiled her 2025 Spending Review on 11 June, setting out departmental budgets and infrastructure investment for the next three years.

Total departmental budgets will grow by 2.3% per year in real terms until 2028/29, with some departments like health receiving a more significant boost. Defence, housing and transport were other areas of focus.

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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.

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