Issued by: HM Treasury

This government’s first mission is growth.

This Government’s first mission is growth: to create good jobs, raise living standards and improve public services.

We’ve taken bold action already:

• Increasing public investment by over £120 billion during this Parliament.

• Secured private investment worth over £250 billion since July, supporting 45,000 jobs.

• Creating the National Wealth Fund, which has already invested £3.8 billion to support

20,300 jobs.

• Backing builders not blockers through the biggest planning reforms in a generation.

• Supporting the expansion of Heathrow and Gatwick airports and the construction of Sizewell C.

In this Budget we are determined to double down on our work to grow the economy and create good jobs:

• Doubling local roads funding since coming into office - with over £2 billion annually by 29-30 for local authorities to repair, renew and fix potholes on their roads.

• Making commutes quicker for thousands with the DLR extension to Thamesmead

• Unsnarling our roads by getting the Lower Thames Crossing off the ground with a further £891 million ahead of private sector construction.

• A default “yes” for developments around train stations, and getting spades in the ground for at least three New Towns this Parliament.

• Unleashing a golden era of nuclear with the UK’s first Small Modular Reactors at Wylfa on Anglesey and making projects quicker and cheaper to build through a review into nuclear regulation.

• Supercharging the government’s commitment to build 1.5 million homes by funding hundreds more planners across England.

• Supporting high streets with permanently lower business rates tax rates for 750,000 retail and hospitality properties.

How is this Budget investing in our public services?

• Making streets safer, by funding 3,000 more neighbourhood police officers and police community support officers in England by the end of March 2026.

• Protecting our NHS with 5.2 million more appointments and 250 new Neighbourhood Health Centres to turbocharge the biggest waiting list drop in 15 years

• Protecting national security - allowing the MOD to retain and reinvest savings in 2028-29 and investing i£1.5 billion over the Parliament, including identifying 13 potential sites for manufacturing munitions and explosive devices.

How is this Budget supporting people into work?

• Getting young people back into work - £1.5 billion over the next three years for the Youth Guarantee and the Growth and Skills Levy. This will help young people earn or learn including a new Jobs Guarantee.

• This builds on action the government has already taken, including eight Youth Guarantee trailblazers across England, £25 million to double the number of Youth Hubs from 111 to over 200, and an independent report to understand the drivers behind the rise in young people who are not in work or education.

• Our reforms to Universal Credit will incentivise more people into work - the OBR forecasts they will add the equivalent of 17k full time jobs to the labour supply, boosting productivity.

How is this Budget supporting fast growing firms?

Britain is already the best place in Europe to start a company, and we will make it easier for fast growing start-ups to scale and stay in the UK. This Budget is:

• Doubling eligibility for enterprise tax incentives so scale ups can attract the capital & talent they need.

• Providing a new three year stamp duty holiday for firms that list in the UK.

• Maintaining the lowest rate of corporation tax in the G7.

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