years ago to £114 billion next year, £115 billion a year after and remain at that level more than double what it was under the last labour government. smart countries build on their long term commitments rather than discard them. today i confirm that because of this decision, alongside sizewell c we will deliver the northern powerhouse bail, the new hospitals programme and hs2 and a gigabit roll out. all of these will be funded as promised with over £600 billion of investment over the next five years to connect our country and grow our economy. our national conservative mission is to level up economic opportunity across the country and that needs investment in infrastructure. i will
possible. britain is a global leader in renewable energy. last year nearly 40% of our electricity came from offshore wind, solar and other renewables. since 2010, our renewables. since 2010, our renewable energy production has grown faster than any other large country in europe. we need to go even further with a major acceleration. home grown technologies like offshore went, carbon capture and storage and a bubble, nuclear. this will deliver newjobs, explore opportunities and ensure the clean, affordable energy we need to reach net zero. today i can announce that government will proceed with their new nuclear power plant at sizewell c. the contracts for the initial investment will be signed with relevant parties, including edf, in the coming weeks.
at the moment electric cars are exempt. major infrastructure projects such as northern powerhouse rail, hs2 and the nuclear power plant at sizewell c, will continue to be built. the overseas aid budget will be kept at 0.5% of national income short of the government s 0.7% original target and the defence budget will be kept at 2% of gdp. jeremy hunt said his plans would protect those on low incomes and the most vulnerable in society, with a rise in the living wage and a cap on rents for social housing. michael buchanan has spent the day in southend getting reaction to the chancellor s plans. 6:30am, and lecturer adam weaver is preparing breakfast. there you go. before heading out for an early meeting at his further education college. each day, it seems, brings a new financial challenge for the father of three. this morning getting the train, that s going to cost me £3 more