Rachel Reeves will deliver a major speech this morning just 24 hours after the biggest u-turn since Labour took office.
The Chancellor has committed £14.2bn of investment to build the new Sizewell C nuclear plant on the Suffolk coastline, ahead of the Spending Review. Sizewell C will create 10,000 direct jobs, thousands more in firms supplying the plant and generate enough energy to power six million homes, the Treasury said.
Chancellor Rachel Reeves said the “landmark decision” would “kickstart” economic growth, while Energy Secretary Ed Miliband said the investment was necessary to usher in a “golden age of clean energy”.
But it comes amid a growing Labour revolt over the party’s economic policies. In a major victory for the Daily Express, Chancellor Rachel Reeves insisted she had “listened” to readers’ concerns as she reversed her hated policy to cut the benefit.
It means more than three-quarters of older people will get the allowance – worth up to £300 – this winter. And Labour MPs seized on the move to call for an increase in benefits spending.
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