Spending review 2025: who are the winners and losers?

Rachel Reeves has announced big boosts to capital spending, but is squeezing the budgets of most government departments. How happy will ministers be?

Reeves pledges funds for northern rail but London left short

North and the regions benefit but Sadiq Khan disappointed as capital secures only one major request

Has Rachel Reeves made the right choices? Our panel responds to the spending review

The chancellor announced spending on health, housing, defence, and infrastructure. But will it be felt by ordinary voters? Polly Toynbee, Kirsty Major, Sahil Dutta, Dhananjayan Sriskandarajah, Jonny Roberts and Hannah White respond

Spending review 2025: key points at a glance

Rachel Reeves has delivered her spending update – here are the main points

Wednesday briefing: ​What to expect in today’s spending review, from housing help to nuclear power

In today’s newsletter: Rachel Reeves is set to unveil the UK’s spending review, balancing major investments with tight budgets and tough fiscal decisions.

Labour’s spending review: five charts underpinning Rachel Reeves’s decisions

What the chancellor has considered when setting out investment to improve services and security through to the next election

British officials hopeful that US will start lifting car tariffs this week

Exclusive: Trade secretary to meet US counterpart with aim of implementing first parts of deal in coming days

Rachel Reeves’s economic vision is coming into focus – a year too late

In an age of political mistrust, voters won’t patiently wait for the benefits of a long-term investment plan, says Guardian columnist Rafael Behr

Reeves will hope weaker wage growth enables more interest rate cuts

Bank of England governor has said he sees pay as crucial in determining pace of rate reductions

MPs ask minister if he will claw back Thames Water executive bonuses

Chair of troubled firm admits 21 senior managers were paid 50% of base salary on 30 April

Sadiq Khan said to be furious over lack of spending review cash for London

City hall source says it would be unacceptable if there were no major infrastructure projects for capital

Public ownership of England’s water companies could cost close to zero, says thinktank

Exclusive: Common Wealth report argues debt, pollution and underinvestment justify process known as special administration

AI plundering scripts poses ‘direct threat’ to UK screen sector, says BFI

Film institute’s report raises fears AI will eliminate junior roles in film, TV, video game and special effects industries

The winners and losers in Labour’s first spending review

Rachel Reeves will promise a £113bn capital boost for infrastructure – but there will be day-to-day spending cuts too

Farage is like a tribune for the working class, says former Bank of England economist

Exclusive: Andy Haldane says Labour ‘sloganeering’ will not empower regions where Reform is making headway