Jump to content

MS-5: Additional Budget Spending

Recommended Posts

Mr. Speaker,

I am pleased to announce that the government will be doing additional spending immediately on several crucial areas that will benefit the people of the United Kingdom. These are not major changes to the 1986 budget but instead some focused areas of increased spending the coalition government considered too important to stand idle on. These funding changes reflect not just the action needed to address the dire economic conditions and mass unemployment we inherited from the Conservatives but also the shared values of the parties that make up the coalition. Out of principle, we have felt compelled to act and act decisively.

Firstly, we will be investing heavily in public works, including infrastructure and housing projects, to improve the quality of life for citizens across the country. Secondly, we will be increasing funding for healthcare and education, ensuring that everyone has access to the care and education they need to succeed. We are also allocating funds to support economic research and innovation to better understand the challenges we face and how best to overcome them. Finally, we will undo the cruel cuts made by the previous government to foreign aid to countries in need, supporting efforts to fight poverty, combat disease, and promote democracy around the world.

The privatizations carried out by the previous government lowered public borrowing to approximately 13 billion. To fund the above, the government will be borrowing around 2.2 billion, bringing the total borrowing for 1986 to around 15 billion pounds, which is what the Labour Party proposed to borrow in its Shadow Budget.

We will be investing 1 billion pounds in housing, rail, highways, and utilities projects across the country. This investment will not only create job opportunities but also raise the national standard of living. Our goal is to improve infrastructure and provide essential services that will benefit the public in many ways. This includes building affordable housing, upgrading railways and highways, and improving access to utilities. We are committed to providing jobs for citizens and improving the quality of life in communities across the country. This investment will ensure that we are able to meet the challenges ahead while also creating a brighter future for all. 

We will use 453 million pounds to open two new town hospitals, which will provide high-quality healthcare to communities that need it the most. These hospitals will be equipped with the latest medical facilities and will have a dedicated staff of healthcare professionals to ensure that patients receive the best possible care. This investment will not only improve healthcare outcomes for local communities but also create job opportunities and support the growth of the healthcare industry in the UK.

In addition to this, the government is also investing 125 million pounds in medical research, which will help develop new treatments and cures for some of the most challenging diseases facing humanity. This investment will enable our scientists to conduct cutting-edge research that will lead to medical breakthroughs.

We will be giving 125 million pounds to the University Grants Committee and 50 million pounds to central school grants, with the aim of improving the quality of education in the UK. This investment will enable universities to provide world-class education and training to students, and support research and innovation that will drive economic growth and social progress. Furthermore, the investment in central school grants will help provide the necessary resources and facilities to schools, ensuring that students receive the best possible education.

The government is investing 125 million pounds to boost economic research in the UK. This investment will be provided in the form of innovation grants and will be distributed by research councils to support groundbreaking research projects and initiatives. The funds will support researchers and innovators in universities, research institutions, and businesses across the country, enabling them to develop new ideas, products, and services that will drive economic growth and prosperity.

This investment will support research across a range of fields, including science, engineering, social sciences, and humanities. It will help to build the knowledge base necessary for businesses and organizations to compete in a rapidly changing global economy. This investment will help to create high-quality jobs, improve productivity, and enhance the UK's reputation as an economic leader.

Finally, the government will be undoing the cuts to foreign aid made by the previous government at a cost of 287 million pounds. This decision reflects our commitment to supporting international development and addressing the challenges faced by some of the world's poorest countries. It also recognizes the importance of foreign aid in building and maintaining Britain's global reputation as a compassionate and responsible member of the international community.

Mr. Speaker, the coalition government is looking forward to writing its first true budget next year. This announcement should be seen as a statement of intent and where our priorities lie. There is not just common ground between the parties of this coalition, but among the British people. Representing those shared norms and values is why we are making this statement today, and will be a guiding force in all major decisions we make.

1. Public works: 1 billion in infrastructure spending

20 million (housing/transpo admin)

100 million (housing maintenance/modernisation)

100 million (house building subsidies)

100 million (highways investment)

100 million (British rail investment)

80 million (highways maintenance)

250 million (public corporations)

250 million (utilities)

2. Health: 453 million for 2 new Town Hospitals (plus staff) and 125 million for medical research

4. Foreign Office: 287 million to reverse foreign aid cuts

5. Economic Research: 125 million to innovation grants and research councils

6. Education: 125 million to the University Grants Committee and 50 million to central school grants

Stephen Armstrong MP

Chancellor of the Exchequer

Member of Parliament for Tooting (1974-present)

Labour Party

Nikita Khrushchev: The difference between the Soviet Union and China is that I rose to power from the peasant class, whereas you came from the privileged Mandarin class.
Zhou Enlai: True. But there is this similarity. Each of us is a traitor to his class.

Link to comment
Share on other sites


  • Create New...