Is Rachel Reeves the next Steve Jobs?

Rachel Reeves volition crook astir the system the mode Steve Jobs turned astir Apple, a furniture curate has suggested up of the upcoming spending review.

Science and Technology Secretary Peter Kyle compared the chancellor to the precocious Apple co-founder erstwhile asked connected Sky News' Sunday Morning with Trevor Phillips wherever the £86bn for his section is coming from.

Politics Live: Winter substance outgo chopped to beryllium dealt with 'in tally up to autumn'

The package, confirmed up of the afloat spending reappraisal adjacent week, volition spot each portion successful England granted £500m to walk connected subject projects of their choice, including probe into faster cause treatments.

Asked by Trevor Phillips however the authorities is uncovering the money, Mr Kyle said: "Rachel raised wealth successful taxes successful the autumn, we are present allocating it per department.

"But the cardinal happening is we are going to beryllium investing grounds amounts of wealth into the innovations of the future.

"Just carnivore successful caput that however Apple turned itself astir erstwhile Steve Jobs came backmost to Apple, they were 90 days from insolvency. That's the benignant of concern that we had erstwhile we came into office.

"Steve Jobs turned it astir by inventing the iMac, moving to a bid of products similar the iPod.

"Now we are starting to put successful the vaccine processes of the future, immoderate of the high-tech solutions that are going to beryllium precocious growth. We're investing successful our abstraction sector... they volition make jobs successful the future."

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The spending reappraisal is simply a process utilized by governments to acceptable departmental budgets for the years ahead.

Asked if it volition see much item connected who volition person wintertime substance payments, Mr Kyle said that contented volition beryllium "dealt with successful the run-up to the autumn".

"This is simply a spending reappraisal that's going to acceptable the wide spending constraints for authorities for the adjacent period, the adjacent 3 years, truthful you're benignant of talking astir 2 abstracted issues astatine the moment," helium said.

Scrapping cosmopolitan wintertime substance payments was 1 of the archetypal things Labour did successful authorities - contempt it not being successful their manifesto - with minsters saying it was indispensable due to the fact that of the fiscal "blackhole" near down by the Tories.

But pursuing a long-drawn retired backlash, Sir Keir Starmer said past period that the authorities would widen eligibility, which is present constricted to those connected pension credit.

Read more: Spending reappraisal 2025 look ahead

It is not wide what the caller criteria volition be, though Ms Reeves has said the changes volition travel into spot earlier this winter.

Mr Kyle besides claimed the spending reappraisal volition spot the authorities put "the astir we've ever spent per pupil successful our schoolhouse system".

However, helium said the chancellor volition instrumentality to her self-imposed fiscal rules - which regularisation retired borrowing for day-to-day spending - meaning that portion immoderate departments volition get other money, others are apt to look cuts.