Boris Johnson pledges huge spending in COVID-19 recovery plan Description video: Prime Minister Boris Johnson has laid out his economic plan during a visit to Ealing Fields High School in west London. The PM has pledged billions more for the […]
Boris Johnson pledges huge spending in COVID-19 recovery plan
Prime Minister Boris Johnson has laid out his economic plan during a visit to Ealing Fields High School in west London. The PM has pledged billions more for the economy in a ‘Roosevelt’ style New Deal package to recover from the economic crisis from the coronavirus pandemic. \n\nRead more: Boris Johnson vows ‘Roosevelt’ style plan to get UK back on track from coronavirus – but warns of ‘bumpy times’ – https://www.thesun.co.uk/news/11978492/boris-johnson-new-deal-britain-coronavirus/\n\nFrom Brexit breaking news to HD movie trailers, The Sun newspaper brings you the latest news videos and explainers from the UK and around the world.\r\n\r\nBecome a Sun Subscriber and hit the bell to be the first to know\r\n\r\nRead The Sun: http://www.thesun.co.uk\r\nLike The Sun on Facebook: https://www.facebook.com/thesun/\r\nFollow The Sun on Twitter: https://twitter.com/TheSun\r\nSubscribe to The Sun on Snapchat: https://www.snapchat.com/discover/The_Sun/1633225139
Boris Johnson promises the economy Roosevelt’s anti-crisis strategy
PM calls for a new investment-driven approach to the economy as coronavirus has become an “absolute nightmare” for the UK.
On Monday, the UK Prime Minister announced a £ 1bn ($ 1.24bn) program to build schools, with major public investment expected on Tuesday. Boris Johnson referred to the experience of the former US president Franklin D. Roosevelt, who was elected to the post of US President at the height of the Great Depression.
Roosevelt is known for implementing the program «New course», which funded the massive construction of public infrastructure in the United States – from hospitals to post offices, bridges and schools. Its goal was to help the country recover from the economic crisis in the 1930s.
Speaking on Times Radio, Johnson said the coronavirus epidemic has become «an absolute nightmare for the country», but added that «in these moments you have the opportunity to change and do something better … invest in infrastructure, transport, broadband».
«I think this is the moment for a Roosevelt approach for the UK», – he added.
Johnson said a return to austerity would be a mistake for the United Kingdom, where the economy, according to the latest forecasts from the International Monetary Fund, will show first a 10.2% decline in gross domestic product in 2020 and then a 6.3% growth in 2021. year.
The Prime Minister is expected to announce further government spending on hospitals, homes and infrastructure on Tuesday.