Chancellor Rachel Reeves is focusing on boosting UK economic growth, aiming to improve living standards by increasing jobs, wages, and public service funding.
Her plan involves backing large infrastructure projects like a third Heathrow runway, creating science hubs, and streamlining business processes. While these projects are expected to stimulate the economy, their benefits, such as job creation and wage increases, may take years to materialise. Reeves also hopes to boost economic optimism, which could lead to increased consumer spending and potentially faster wage growth. However, the benefits of growth are unlikely to be evenly distributed, and many of the announced projects are concentrated in the south of England.