John Slinger’s MP Column for Rugby: What does the Spending Review mean for Rugby?
This week, the government announced its spending plans for the next three years in its Spending Review. There are lots of numbers flying around - and a lot of money to keep track of. I know it can seem confusing and not very clear, but I want to set out what this actually means for you and the constituency of Rugby.
Let’s rewind to last autumn, when we had the Budget. With those actions, Rachel Reeves was fixing the foundations and helping to stabilise the economy. Remember - when we entered power, the economy was teetering on the edge, and public services had been decimated after years of austerity. The choices made then, have enabled her, in the Spending Review, to move beyond the ‘stabilisation’ phase and start to renew Britain.
Contrary to popular belief, there has been huge investment, £190 billion in day-to-day spending on public services over the Spending Review period. £113 billion in public investment has also been announced. With spending on public services like this, it is clear this is not a return to austerity.
This spending includes the largest-ever investment in affordable and social homes at £39 billion.
There’s above-inflation funding for our police and the biggest capital budget ever for the NHS. A 3% growth in day-to-day spending means more appointments and quicker access to your doctor.
We’re already starting to see the fruits of this investment - waiting lists fell in April for the first time in 17 years. (This is always a notoriously challenging month due to churn within the NHS system at the end of the financial year). Waiting lists are now at their lowest level in two years.
The £3 bus fare cap has been extended - great news for those of you who use our bus network to travel to work, school, or just to go to the shops!
And this spending plan will directly benefit us right here in Rugby. Through the free breakfast club scheme rollout, schools are already seeing the benefits. Children at St James’ CofE Academy and Wolvey CofE Primary School are already enjoying starting the day on full stomachs and ready to learn.
Rugby is specifically receiving £11 million, which is being matched by Rugby Borough Council as part of the Warm Homes Plan - allowing for upgrades to homes to reduce energy bills, potentially saving families £600 a year.
Staggeringly, real wages are up more in 10 months of a Labour government than in 10 years under the Tories. This is due in part to increases in the national minimum and living wage, which will benefit 2,900 of the lowest-paid workers in Rugby.
Our investment in the green energy transition and the huge uplift in defence spending will mean more jobs for companies involved in Rugby such as GE Vernova. More money for further education colleges and apprenticeships should help young people from Rugby to get the training they need.
The Chancellor has also revised the ‘Green Book’ the Treasury’s formulas for allocating government investment that previously advantaged the big cities. This should mean better deals going forward for towns like Rugby - something I constantly push Ministers for privately and publicly.
Part of this drive is a four-fold increase in transport allocations to local authorities and two government funds to help places outside the city regions, such as the Pride in Place Fund and the Growth Investment Fund. I’ll be working with the Labour-led borough council to ensure bids go in from Rugby.
This is renewal - across the spectrum. Free breakfasts for school kids, more money in pay packets for workers, and help upgrading homes to cut bills for families and pensioners.
I bumped into the Chancellor after she had delivered the Spending Review in the House of Commons and briefly discussed the positive impact it’ll have in Rugby, Bulkington, and the villages.
There’s a lot more to come in the weeks ahead, but this is really exciting - and great news for Rugby.