Spending review 2025: key points at a glance

Rachel Reeves is delivering her spending update – here are the main points

Politics live: Reeves delivers spending review

The chancellor talks up the government’s economic record and the decisions made at the budget. She makes the obligatory mention of the Conservatives’ “14 years of mismanagement and decline” and the supposed £22bn fiscal hole. “We are renewing Britain,” she says – while accepting that many Britons “have yet to feel it”. This spending review will change it, she says.