The Prime Minister opened today's Cabinet by saying it was an
important day, marking a new chapter in this government's plan to
invest in working people's priorities. He said that last year
tough but necessary decisions had been taken to fix the
foundations of the economy, and as a result today the government
can set out plans to significantly increase investment in public
services and growth. He said we have already seen the difference
this government can make with announcements in recent days on
free school meals, new nuclear and affordable housing. The Prime
Minister added that today marks the end of the first phase of
this government, as we move to a new phase that delivers on the
promise of change for working people all around the country and
invests in Britain's renewal.
The Chancellor gave an update on the Spending Review that she
would present today. She said the decisions at the Autumn Budget
to raise taxes and change the fiscal rules unlocked significantly
higher investment in public services and growth. She said this
government has made its choices, and it is only possible to
support today's investments in public services and the economy if
you support the difficult decisions that were needed to fix the
foundations of the economy. She said the Spending Review would
invest in economic growth, creating jobs and backing British
industry in all parts of the country; economic security with
investments in defence, protection of our borders, and energy
security; and public services including health and education. She
said we have seen interest rates fall and real wages grow faster
in the first ten months of this government than the first ten
years of the previous government, but that not everyone in the
country is yet feeling the benefits, and so the government would
now get on with delivering the promise of change, investing in
jobs around the country, and the public services that people rely
on.
