A £113bn renewal plan pledges extensive public investment in infrastructure, healthcare, and education, fuelling debate over possible tax rises and a tighter squeeze on certain government departments.

A pledge of £39bn towards affordable homes has been placed at the heart of efforts to revitalise the country, accompanied by a planned £113bn infrastructure boost and a focus on everyday finances, raising questions about tax policy and marking a pivotal moment for Labour.

Winter fuel payments have been restored for pensioners, excluding only the wealthiest, while nuclear energy secures record support, reflecting a renewed emphasis on easing living costs and bolstering long-term energy strategy.

Business chiefs are travelling to Washington to contest newly proposed foreign investment tax measures, warning they could undermine job creation, hamper economic growth, and disrupt global markets.