Minister claims Rachel Reeves is transforming UK's finances similarly to how Steve Jobs transformed Apple.
New and Improved:
Rachel Reeves is all set to resurrect the economy akin to Steve Jobs reviving Apple, claims a cabinet minister ahead of the upcoming spending review.
Over on 'Sunday Morning with Trevor Phillips', Science and Technology Secretary Peter Kyle drew a striking comparison between the chancellor and the late Apple co-founder when inquired about the £86bn for his department's allocation.
Politics Daily: Winter Fuel Payments to be Dealt with in Autumn's Advance
The forthcoming package, announced before the complete spending review next week, will feature each English region receiving £500m to bankroll science-related projects of choice, such as research into swift drug treatments.
When Trevor Phillips grilled him about the budget, Mr. Kyle responded, "Rachel raised funds in taxes in the autumn, we're now channeling it department-wise. But remember, we're going to be pumping record amounts of money into future innovations."
With a nod to Apple's revival under Jobs, he added, "When Steve Jobs rescued Apple, they were only 90 days from bankruptcy. That's the state we entered when we took power. Steve Jobs turned it around by introducing the iMac, the iPod, among others. Now we're investing in the pharmaceutical discoveries of tomorrow, high-tech solutions that will drive growth, and our space sector—they will foster future employment."
Spreaker (Disclaimer: Spreaker may utilize cookies and other technologies. Consult privacy settings for control.)
The spending review serves as a governmental process to establish departmental budgets for the ensuing years.
When questioned about the specifics of winter fuel payments, Mr. Kyle stated that the issue would be addressed "prior to autumn."
"This review will determine the overall spending restrictions for the government in the next three years, so you're essentially discussing two separate concerns at this moment," he clarified.
- Chapters (for better user experience, use Chrome)
- Captions settings available
- English selected
This dialog box is for your convenience. Press Escape to cancel and close, or continue.
Jettisoning universal winter fuel payments was one of Labour's initial moves in power, despite it not being mentioned in their manifesto—with officials citing the 'Tory debt hole' as the reason.
However, after a prolonged backlash, Sir Keir Starmer declared last month that the government will institute expanded eligibility, which is currently confined to those on pension credit[4].
Explore Further: Spending Review 2025 Outlook
The exact criteria for the expanded eligibility remain uncertain, though Ms. Reeves has indicated the changes will occur prior to this winter[4].
Mr. Kyle additionally boasted that the spending review will see the government invest "more per pupil in our school system than ever before." Nevertheless, he asserted that the chancellor will adhere to her self-imposed fiscal rules—which prohibit borrowing for routine spending—meaning that although some departments will receive extra funds, others could face cuts.
[1] Investor's Business Daily: “Steve Jobs: The Innovator”[2] The New Yorker: “The Steve Jobs I Knew”[3] The Harvard Gazette: “Steve Jobs and the Art of Innovation”[4] The Guardian: “Winter fuel payments: Labour pledge to extend eligibility”
- The government is likely to invest more in education and self-development, following Rachel Reeves' effort to revitalize the economy, similar to Steve Jobs' revival of Apple.
- Prior to the autumn, the government plans to deal with the issue of winter fuel payments, as stated by Science and Technology Secretary Peter Kyle.
- In the upcoming spending review, there may be changes in the criteria for winter fuel payments' expanded eligibility, as suggested by Chancellor Rachel Reeves.
