December 7, 2021

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Britain plans to invest around 7 7 billion in transportation

Britain plans to invest around 7 7 billion in transportation

The financial objective is to reduce economic disparities between regions.

October 24, 2021 at 12:54 pm DASR

London. Under next year’s budget, Britain plans to invest nearly 7 7 billion (€ 8.3 billion) in transport outside London to reduce economic inequality. The finance ministry said on Saturday.

Finance Chairman Rishi Sunak will present a transport initiative during the autumn review of the budget and expenditure on Wednesday next week.

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The so-called Prime Minister’s plan to bridge the gap between the regions Boris Johnson It is considered necessary to keep voters in the former strongholds of the main opposition Labor Party, which backed the Conservative Party in the 2019 election. Investments are considered a gift for this support.

Minister Sunak is expected to stick to plans to recover funds after extraordinary spending on the new epidemic during a budget presentation on Wednesday. Corona virus, The best of the economy – the expected level gives him some room for maneuver.

Britain is recovering faster than expected from the Covit-19 crisis. As its economy performs better, the Office of Budget Responsibility (OBR) is likely to increase its growth outlook for the current year, lower its unemployment forecast and reduce its debt due to higher tax revenues.

However, experts predict that Finance Minister Sunak will not ease financial control as the economic recovery begins slowly, and rising interest rates are driving higher interest rates in the UK.

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Following the suspension of financial rules at the onset of the epidemic, it is thought to have planned to introduce new ones.

Chunak says his priority is still to reduce the September decision-making deficit to raise funds by raising taxes on emergency spending on health and social issues.

Analysts estimate that the OBR will boost Britain’s gross domestic product (GDP) growth forecast for 2021 from 4% to 7% in the March forecast.