Boris Johnson promises billions to ‘power economic recovery’

Boris Johnson has promised billions in overseas investment to ‘power economic recovery’.

UK PM Boris Johnson is set to announce that he will invest £9.7bn in overseas investment for the UK that will ‘power economic recovery’. The proposed package of 18 investment deals is expected to create at least 30,000 additional jobs, a spokesman for Downing Street said. It is intended to support growth in sectors such as wind and hydrogen energy, sustainable homes and carbon capture and storage.

The Prime Minister will make the announcement at the Global Investment Summit today, Tuesday, October 19, which will see business leaders from around the world gather at the Science Museum in London.

It comes as the Department for International Trade launches a new Investment Atlas, an online platform designed to help international investors identify and execute high priority investment opportunities in England, Scotland, Wales and Northern Ireland. The one-day summit in London is taking place to encourage foreign investment by showcasing the best of British innovation, especially green industries of the future.

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Monetary policy

The chancellor’s hands are tied by forces beyond his control and decisions already made, such as those on these taxes. The fiscal legacy of Covid is crucial. Also very important is the legacy of Brexit, not just for the labour market, but for other aspects of economic performance in reality, rather than the fantasies of the believers. Above all, there will be growing pressures for additional spending from the UK’s ageing population and climate commitments.

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