Rachel Reeves is trumpeting £15.6bn of transport projects, mainly in the north and Midlands – and it’s no coincidence that these regions are where Nigel Farage’s Reform UK poses a threat to Labour.
The chancellor has £113bn of such capital projects to announce in next Wednesday’s spending review, which will set departmental budgets for the next three years. But building projects that will take years won’t mask the bad news – more immediate real-term cuts in day-to-day spending for some departments as Reeves struggles to meet her fiscal rules. Yet again, Labour will eclipse the good things it is doing with unpopular decisions.
