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Mais speech

17 March 2026

Proposing MP
Rachel Reeves Lab
Leeds West
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

Rachel Reeves updates Parliament on the government's 'Securonomics' strategy, aimed at increasing economic security and resilience.

Action Requested

The statement announces further commitments to regional growth, innovation in AI, and strengthening relationships with the EU. Specific actions include funding for City Investment Funds and accelerating the Oxford to Cambridge Growth Corridor initiative.

Key Facts

  • The government's securonomics strategy focuses on economic security, domestic productive capacity, and resilient supply chains.
  • £270 billion is planned over the Spending Review period for defence spending.
  • UK imports 17% less gas in 2025 compared to 2021.
  • The government has committed £800 million for upfront land acquisition and infrastructure in the Oxford to Cambridge Growth Corridor.
  • City Investment Funds will receive up to £2.3 billion over five years, with £1.7 billion going to mayors in the North.
  • A Sovereign AI Unit is being funded with £500 million.
  • Quantum technologies will see funding worth up to £2 billion over a decade.
  • The government aims to upskill ten million workers through its TechLocal scheme and AI scholarships.
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