Budget 2025 LIVE: Rachel Reeves to unveil spending and profit cuts | Politics | News | EUROtoday

The Chancellor will come beneath hearth from Conservatives at present over her operating of the financial system, whereas some Labour MPs could publicly specific concern about cuts.

But the Treasury has given some particulars about what her message to Parliament shall be.

You’ll see that she blames international occasions – “a changing world” – for tough selections.

Chancellor Rachel Reeves will say: “Now our job is to safe Britain’s future in a world that’s altering earlier than our eyes.

“The job of a responsible government is not simply to watch this change.

“This moment demands an active government stepping up to secure Britain’s future. A government on the side of working people.

“To grasp the opportunities that we now have and help Britain reach its full potential, we need to go further and faster to kickstart growth, protect national security and make people better off through our Plan for Change.”

She will also say: “In February, the Prime Minister set out the government’s commitment to increase spending on defence to 2.5% of GDP from April 2027 and an ambition to spend 3% of GDP on defence in the next parliament as economic and fiscal conditions allow.

“That was the right decision in a more insecure world, putting an extra £6.4bn into the defence budget by 2027.

“But we have to move quickly in a changing word. And that starts with investment.

“So I can today confirm that I will provide an additional £2.2bn for the Ministry of Defence next year – a further downpayment on our plans to deliver 2.5% of GDP.

“This increase in investment is not just about increasing our national security but increasing our economic security, too.

“As defence spending rises, I want the whole country to feel the benefits.”