Spending Review: Winners and losers

Despite some fears, DESNZ did well in the Review, with a 16 per cent increase in overall departmental spending, reaching £12.6bn in 2028-29.

The Warm Homes Plan remains untouched and will continue to support the insulation and efficiency upgrades to building stock.

Nuclear was the big winner as expected with spending to rise to £30bn, including £14bn for Sizewell C and the Rolls Royce Small Modular Reactor (SMR) scheme confirmed, but faces some criticism for robbing ‘Peter to pay Paul’ in that it will come from GB Energy’s funding. So Great British Energy itself is a bit of a winner and loser, with the Review confirming £8.3bn in funding, but giving some to GB Energy – Nuclear for SMRs.

Carbon capture and storage (CCS) also did well, with the Acorn and Viking projects allocated funding and the Government showing its intention to continue to support the technology. Offshore wind supply chains also get a £300m slice of funding.

Housing will get a boost, with £39bn (over ten years) earmarked. These new builds expected to have solar panels, heat pumps and high levels of efficiency if Government guidelines are followed, and there was also a promise of £15bn in spending for rail and tram, creating a more electrified transport infrastructure.

In the losers’ corner is the Department for Environment, Food and Rural Affairs with an overall cut, but at least “nature-friendly farming” is expected to be not only protected but given extra funding.



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