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March Budget promises chunk of £100bn planned infrastructure spend

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  • 07/01/2020
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March Budget promises chunk of £100bn planned infrastructure spend
The Budget will take place on 11th March which the Chancellor of the Exchequer Sajid Javid said would usher in a “decade of renewal”.

 

Speaking to the BBC, Javid (pictured) said the government would invest more and take advantage of low interest rates to borrow money, “in a responsible way”.

The Chancellor hammered home his commitment to invest in infrastructure first announced in his September Spending Review.

“There will be an infrastructure revolution in our great country,” Javid said to the BBC. “We set out in our manifesto during the election how we can afford to invest more and take advantage of the record low interest rates that we are seeing, but do it in a responsible way.”

He added: “There will be up to an extra £100bn of investment in infrastructure over the next few years that will be transformative for every part of our country.”

He said the government would lay out how it would take advantage of the “huge opportunities” brought about by Brexit and help “hard-working people” with the cost of living.

The Budget was originally scheduled for 6th November 2019 but was cancelled to make way for the general election.

The government said it will use the Budget to prioritise environmental issues and build on its announcements to boost spending on public services.

Labour’s shadow chancellor John McDonnell told the BBC he had no confidence that the Tory government could deliver the scale of investment the country needed.

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