Rachel Reeves describes a £500 million private investment by a US firm Prologis into Cambridge Biomedical Campus as a "real show of confidence in what this Government are doing to grow the economy". The chancellor also defends her decision to raise money via employers National Insurance contributions which will also affect some GP surgeries and care homes saying “the NHS has got the money it needs”. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00It's a real show of confidence in what this government are doing to grow the economy
00:05that just a few days after the budget, Prologis are announcing this £500 million investment
00:12into the UK here in Cambridge to grow the life science industry in Britain.
00:17The UK's got huge strengths in industries like life sciences, but this additional investment
00:23will mean that we can create more good jobs, paying decent wages, as well as developing
00:29here in the UK life-saving drugs, and that's incredibly exciting because that means patients
00:36in the UK having access to better quality medicines whilst also building our research
00:41capability.
00:42We announced a £22.6 billion investment into the National Health Service in the budget
00:47on Wednesday, as well as £3.1 billion for capital investment, new scanners, diagnostic
00:52equipment, and NHS England will now use that money to focus on the priorities.
00:58But we had to raise money in the budget on Wednesday.
01:02The economy and the public finances have been very badly mismanaged by the previous government,
01:07leaving a £22 billion black hole in the public finances.
01:11We had to raise that money.
01:12I feel we've done that in a fair and a balanced way, but the NHS have got the money it needs
01:17to deliver the 40,000 additional appointments every single week to bring down waiting times.