Official NHS annual reports and public announcements

First Female Chancellor Reeves Unveils Labour Budget with £10bn NHS Boost and £86m Olympic Funding

Oct 29, 2024, 10:20 AM

Chancellor Rachel Reeves is set to deliver her first Budget to Parliament on Wednesday, marking the first Labour Budget in 15 years and making her the first woman to deliver a UK Budget. The Budget is expected to include significant tax increases, aiming to raise up to £40bn extra per year, as well as substantial new funding for the National Health Service (NHS). Reeves plans to allocate up to £10bn to the NHS, including £1.57bn for new equipment, to support the delivery of an extra two million operations, scans, and appointments per year in an effort to reduce waiting lists. However, Health Secretary Wes Streeting has cautioned that the funds may not be sufficient to fix all the issues within the NHS, acknowledging that the system cannot be turned around in a single Budget. The Budget is also expected to include a pledge of £86m a year for Britain's Olympic funding. The Budget will focus on fixing the foundations of the economy, investing in public services, and delivering change as promised in the Labour manifesto.