Treasury publishes stakeholder reactions to Spending Review

The Treasury has published stakeholder reactions to today's Spending Review. 

On the overall package

 Keith Lawson, Executive Vice President, Jacobs said:

“Jacobs welcomes the Chancellor's commitment to 'invest in Britain's renewal' through the Government's Spending Review. The billions of pounds in new capital investment are a testament to the Government's commitment to driving economic growth, fostering regional equality, and providing market certainty.

“We particularly welcome the Government's £14.2 billion investment in Sizewell C. This is more than just a commitment to clean power—it's a move that will deliver new economic growth and greater energy resilience. Additionally, the Chancellor's commitment to improving local transportation through a transformative £15.6 billion fund is a significant stride towards creating a more connected Britain.

“The combined efforts of the Comprehensive Spending Review, the National Infrastructure and Service Transformation Authority, and the upcoming 10 Year Infrastructure Strategy provide the stability, coordination, and long-term vision necessary for the efficient delivery of both economic and social infrastructure. At Jacobs, we stand ready to collaborate closely with the government and industry partners to contribute to the successful implementation and delivery of projects across the United Kingdom.”

Katy Dowding, Chief Executive Officer, Skanska said:

“The Chancellor's Spending Review provides added certainty for the future of the UK economy. The confirmation of major investment in key construction areas such as defence, healthcare, energy and infrastructure is welcomed by Skanska UK.  This is a crucial step in enabling construction as a key driver for economic growth.

“The upcoming 10-Year Infrastructure Plan and subsequent confirmation of scheme pipeline will both be essential for the construction industry to plan effectively, invest in skills and innovation, and deliver solutions that support long-term growth and development.”

On housing

 Charlie Nunn, Group Chief Executive, Lloyds Banking Group said: 

“We welcome today's important announcement of a £39 billion, 10 year Affordable Homes Programme – providing greater certainty for long-term housing investment, and strengthening public and private partnership to increase provision of good quality, genuinely affordable homes.”

Kate Henderson, Chief Executive, The National Housing Federation said:

“This is a transformational package for social housing and will deliver the right conditions for a decade of renewal and growth.

“This is the most ambitious Affordable Homes Programme in decades and alongside long-term certainty on rents, will kickstart a generational boost in the delivery of new social homes.

 “Housing associations look forward to working in partnership with the government and with a Deputy Prime Minister, who has tirelessly championed social housing.”

On innovation

 Irene Graham, Chief Executive Officer, ScaleUp Institute said:

“The UK scaleup economy is driving innovation and growth in every part of the country across sectors. Today's Spending Review with its commitment to increase R&D spending and the expansion of funding for the British Business Bank, including the reforms to make the latter permanent, are vital if we are to ensure our high growth and high potential businesses get the funding and resources so needed to propel their international scale up ambitions forward. The Growth Mission Fund and Local Innovation Partnerships Fund, alongside infrastructure commitments, should further drive scaleup growth, with the evolution of local clusters and hubs as proven enablers.

We look forward to working with Government at local, devolved and national levels as these initiatives are progressed.”

Carolyn Dawson OBE, Chief Executive Officer, Founders Forum Group and Tech Nation said:

"Today's Spending Review marks a meaningful step forward for the UK's tech sector. Major commitments – including £2 billion for AI, a new national supercomputer, expanded digital infrastructure, and action to strengthen the tech talent pipeline – send a clear signal of Britain's ambition to lead the way on tech and innovation. The focus must now shift from commitment to delivery, and we look forward to working closely with government to ensure these investments translate into impact for founders, startups and scaleups."

On energy and Warm Homes Plan

 Garry Felgate, Chief Executive, The MCS Foundation said:

“It is fantastic to see the Government demonstrate its commitment to the decarbonisation of homes through a fully funded Warm Homes Plan.

“Decarbonising homes can deliver warmer homes, lower bills, and tackle the climate crisis. Following last week's news that all new homes in England will come with renewables as standard, this is an important next step in providing certainty for industry and consumers, which will aid the rollout of low-carbon technologies such as heat pumps.

“We look forward to seeing further details of The Warm Homes Plan in due course.”

Dhara Vyas, Chief Executive, EnergyUK said:

“Today's Spending Review has confirmed the Government's commitment to its clean energy ambitions. Investing in clean power generation at home and the technologies of the future is vital for our future energy security while the Government is also honouring its manifesto funding commitment to upgrade millions of properties across the country through the Warm Homes Plan.

“The significant investment in nuclear through support for Sizewell C, the Small Modular Reactor (SMR) programme and research in fusion will bolster our energy independence and help power our economy, businesses and homes over the coming decades as well as creating jobs, growth and opportunities throughout the UK. The funding for the Acorn and Viking carbon capture projects means we can reap the rewards from taking the lead in this developing technology which will also play a crucial role in supporting the transition of our industries to clean energy – while GB Energy has the potential to support further exciting innovation in communities across the country.

“It's also very important that millions of customers will see a direct benefit from today's announcements. By reaffirming the funding to improve the energy efficiency of millions of homes and supporting the switch to cleaner heating alternatives, customers can expect warmer and more comfortable homes, cleaner air and cheaper bills – showing how the energy transition can improve their daily lives.”

On health

 Prof Siddharthan Chandran, Director, UK Dementia Research Institute said:

“In this challenging economic landscape, we welcome the Chancellor's strong backing for UK science. This investment isn't just about labs and research papers; it's about making real breakthroughs that actually improve people's lives and boost our economy.

“It's right that research and innovation is taking centre stage in the Government's growth plans. The Chancellor has recognised what we've known all along - the UK has something special when it comes to life sciences, and we're ready to show the world what we can do.

“Today's boost to R&D investment, especially through long-term 10-year commitments, is welcome. Here at UK DRI, sustainable funding enables our researchers to really dig into the big challenges and come up with game-changing solutions. To make the most of our potential we need to continue to provide a long-term sustainable basis for researchers to drive forward world-class scientific innovation, whilst making sure we attract the best of global scientific talent.

“We look forward to seeing what comes next in the Life Sciences Sector Plan. Our goal is simple but ambitious: making sure everyone can look forward to a future where our brains stay healthy as we age. Combined with further measures in the Life Sciences Sector Plan and Industrial Strategy, today's announcement brings that future closer for the millions of people affected by dementia.”