One of the key aspects of this budget is the allocation of £1.5 billion for the Northern Ireland Executive, an investment aimed at supporting local communities, enhancing infrastructure, and stimulating economic growth across the region. In addition to this substantial funding, Ms. Reeves confirmed that City Growth
Deals for the Causeway Coast and Glens and Mid South West regions will also proceed. These deals are expected to drive targeted development initiatives, boost job creation, and bring new business opportunities to these areas.
The budget also Introduces a series of tax changes aimed at increasing revenue by £40 billion. This will involve adjustments to national insurance contributions, higher capital gains tax rates, and modifications to inheritance tax. Ms. Reeves defended these measures as necessary steps to fund essential public services and reduce the national deficit. While these changes are likely to impact higher-income earners, the Chancellor emphasized that they would contribute to building a more resilient economy and supporting critical investments in healthcare, education, and infrastructure.
In her speech, Ms. Reeves highlighted a significant commitment to the National Health Service (NHS), which will receive an additional £22.6 billion in its operational budget. This funding aims to support frontline services, reduce waiting times, and address staffing shortages.
Furthermore, an extra £3.1 billion has been allocated to the NHS capital budget, which will go toward upgrading facilities, investing in medical technology, and modernizing hospital infrastructure across the UK. The Chancellor reiterated Labour’s commitment to ensuring that the NHS remains accessible and robust, with this funding poised to help meet growing healthcare demands and improve patient outcomes.