Rachel Reeves is setting out her spending review in the House of Commons.
It outlines how much funding individual government departments will receive over the next three years and state infrastructure investment for the next four years.
The last spending review took place during the COVID-19 pandemic, and before that, in 2015.
Here’s what’s been announced so far – please refresh this page for updates.
Defence
A major recipient of funds is the Ministry of Defence. Defence spending will rise from 2.3% of gross domestic product (GDP) to 2.6% by 2027. An £11bn uplift and a £600 million uplift for security and intelligence agencies.
Within that there’ll be £4.5bn of investment in munitions made in Glasgow and more than £6bn to upgrade to nuclear submarine production.
Border security
The chancellor goes onto border security, where she says funding will increase with up to £280m more per year by the end of the spending review for the new Border Security Command.
She said the Home Secretary Yvette Cooper will end the costly use of hotels to house asylum seekers by 2029.
The chancellor says funding she has announced today, including from the transformation fund, will also cut the asylum backlog, see more appeal cases heard and “return people who have no right to be here”.
This will save the taxpayer £1bn a year, she says.
Energy
The biggest nuclear building programme for half a century has been announced with £14.2bn being poured into the Sizewell C nuclear power station on the Suffolk coastline.
A total of £14bn will go to the Sizewell C nuclear power plant. Another £2.5bn will be invested in a new small modular reactor programme.
A commitment to nuclear was reiterated, with £30bn allocated.
Science and technology
Moving on from energy and infrastructure, the chancellor says she wants the country’s high tech industries in Britain to continue to lead the world in the years to come.
Research and development funding will go to a record high of £22bn a year by the end of the spending period.
The government’s artificial intelligence action plan will receive £2bn.
Housing
Government funding of social and affordable housing has been allocated £39bn – which she called the “biggest cash injection into social housing in 50 years”.
She says she is providing an additional £10bn for financial investments, including to be delivered through Homes England, to help unlock hundreds of thousands more homes.
Transport
The chancellor announced £15bn for new rail, tram and bus networks across the West Midlands and the North. She’s also green-lit a new rail line between Liverpool and Manchester.
Lucy Powell has accused Bridget Phillipson’s team of “throwing mud” and briefing against her in the Labour deputy leadership race in a special episode of Sky’s Electoral Dysfunction podcast.
With just days to go until the race is decided, Sky News’ political editor Beth Rigby spoke to the two leadership rivals about allegations of leaks, questions of party unity and their political vision.
Ms Powell told Electoral Dysfunction that through the course of the contest, she had “never leaked or briefed”.
But she said of negative stories about her in the media: “I think some of these things have also come from my opponent’s team as well. And I think they need calling out.
“We are two strong women standing in this contest. We’ve both got different things to bring to the job. I’m not going to get into the business of smearing and briefing against Bridget.
“Having us airing our dirty washing, throwing mud – both in this campaign or indeed after this if I get elected as deputy leader – that is not the game that I’m in.”
Ms Powell was responding to a “Labour source” who told the New Statesman last week:“Lucy was sacked from cabinet because she couldn’t be trusted not to brief or leak.”
Ms Powell said she had spoken directly to Ms Phillipson about allegations of briefings “a little bit”.
Image: Bridget Phillipson (l) and Lucy Powell (r) spoke to Sky News’ Beth Rigby in a special Electoral Dysfunction double-header. Pics: Reuters
Phillipson denies leaks
But asked separately if her team had briefed against Ms Powell, Ms Phillipson told Rigby: “Not to my knowledge.”
And Ms Phillipson said she had not spoken “directly” to her opponent about the claims of negative briefings, despite Ms Powell saying the pair had talked about it.
“I don’t know if there’s been any discussion between the teams,” she added.
On the race itself, the education secretary said it would be “destabilising” if Ms Powell is elected, as she is no longer in the cabinet.
“I think there is a risk that comes of airing too much disagreement in public at a time when we need to focus on taking the fight to our opponents.
“I know Lucy would reject that, but I think that is for me a key choice that members are facing.”
She added: “It’s about the principle of having that rule outside of government that risks being the problem. I think I’ll be able to get more done in government.”
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But Ms Powell, who was recently sacked by Sir Keir Starmer as leader of the Commons, said she could “provide a stronger, more independent voice”.
“The party is withering on the vine at the same time, and people have got big jobs in government to do.
“Politics is moving really, really fast. Government is very, very slow. And I think having a full-time political deputy leader right now is the political injection we need.”
The result of the contest will be announced on Saturday 25 October.
The deputy leader has the potential to be a powerful and influential figure as the link between members and the parliamentary Labour Party, and will have a key role in election campaigns. They can’t be sacked by Sir Keir as they have their own mandate.
The contest was triggered by the resignation of Angela Rayner following a row over her tax affairs. She was also the deputy prime minister but this position was filled by David Lammy in a wider cabinet reshuffle.