Shadow Chief Secretary to the Treasury Richard Fuller has warned that taxpayers will be the primary casualties of Chancellor Rachel Reeves's Spending Review, set to be unveiled today at approximately 12.30pm.
The Spending Review will outline day-to-day spending plans for the next three years and capital spending plans for the following four years.
Fuller expressed concern about the Chancellor's handling of public finances, particularly given constraints from the Government's winter fuel payment U-turn, which will cost approximately £1.25billion to extend benefits to pensioners earning up to £35,000 annually.
He told GB News: “This Chancellor has already demonstrated that she hasn't really got a grip on the overall public finances.
Richard Fuller warned that taxpayers are to "bear the brunt" of the burden
GB News
"So as welcome as today's announcements about investment will be, ultimately, this Chancellor is barrelling towards more and higher taxes again in the autumn, and so the main losers, they’re going to be taxpayers.
“Between departments, it all depends on what she does on the NHS. That is the large proportion of public spending, and she has an opportunity with this zero-based review to show that she's really serious about getting value for money for every penny of money she takes from taxpayers.
LATEST DEVELOPMENTS
“Remember last year, was the biggest tax increase for a generation that's put pressure on businesses, large and small.
"And you'll have many of your viewers this morning getting ready to go out to work, maybe already at work, and they're already feeling the pinch.
“As families are making difficult decisions about where they spend money, they expect a Chancellor to make those same important decisions about value for money.
“I’ll be looking today to see, has this Chancellor really done the necessary work to avoid what the IFS say is a more than 50/50 chance that she will be back in the autumn for higher taxes.”
WATCH: Former Labour MP Lloyd Russell-Moyle claims Rachel Reeves will 'completely squander' Labour's chances of re-election
Despite Fuller's warnings, the spending review is expected to include significant funding increases across several departments.
The Department of Health will receive a 2.8 per cent budget increase, providing approximately £30billion in additional funding by 2028/29.
Schools are set to benefit from £4.5billion extra for the core schools budget, including an expansion of free school meals to 500,000 additional pupils.
Rachel Reeves will deliver her Spending Review today
PAThe science and technology sector will receive an £86billion funding package for research into areas including new drug treatments and longer-lasting batteries.
Transport infrastructure will see £15.6billion allocated to mayors for major projects across England's city regions, aimed at improving trams, trains and buses in the North and Midlands.
The Ministry of Justice will receive £4.7billion to construct three new prisons to address the overcrowding crisis.
Most Read
