Rachel Reeves can rescue the UK economy in the same way that Steve Jobs rescued Apple from the bring of insolvency, a senior minister claimed today.

Peter Kyle likened the Chancellor's stewardship of the public finances to the late Mr Jobs' role at Apple when the company was on the brink of insolvency in the late 1990s.

He spoke ahead of the spending review this week which is likely to see billions more ploughed into the NHS and education at the expense of other public services.

The health service is expected to receive a 2.8 per cent annual increase in its day-to-day budget over a three-year period.

The cash injection, which amounts to a rise of about £30 billion by 2028, or £17 billion in real terms, will see other areas including police and councils squeezed, The Times newspaper reported.