Today, Wednesday 30 October 2024, Chancellor Rachel Reeves set out the first Labour budget in 14 years.
Lord John Bird, founder of the Big Issue and crossbench peer, said: “So here it is: the most significant budget in a generation. As expected, as with every budget, under every government, it falls short of addressing the biggest issue in the UK – our escalating poverty crisis.
“There are positive moves. The £30 million for new school breakfast clubs will underwrite the long-term health and prospects of our young learners. Cash freed up for crumbling infrastructure should make a tangible impact on all our lives. And the commitment of £230 million towards alleviating homelessness and rough sleeping is much needed. But if borrowing rules can be fiddled to make way for this infrastructure investment, why not for poverty-busting investments in people? In health, education, and housing?
“Take social housing. Putting money towards 5,000 new social and affordable homes is a start but for the 1.3 million people currently sitting on waiting lists for homes, this is clearly a drop in the ocean. These homes are the vital foundations from which people build their way out of poverty. It’s this kind of investment that will stop spiralling welfare costs from draining the public purse.
“Things will only change if we spend serious money on breaking the cycle of poverty – on preventing and curing poverty. We can’t wait for fairweather days to roll over the hill before we take action.”
