ENTERTAINMENT

Spend, spend, spend! Boris Johnson swears NO return to austerity measures


Boris Johnson today vowed to continue to inject the money despite rising national debt, insisting that the coronavirus crisis could be an "opportunity for change".

The prime minister said he would "double" his investment in "leveling" the UK and compare efforts with Franklin D Roosevelt's New Deal after the Great Depression in the United States in the 1930s.

As the first step in his resuscitation program, Mr. Johnson revealed a £ 1 billion upgrade to school buildings and said the "nightmare" of the pandemic would not mean a return to "austerity measures" – insisting that this would be a "mistake".

But he also suggested that there would be a budget only in the fall, though Keir Starmer called for a new financial plan next month.

There is growing concern about public finances as the freeze affects the economy. The government is expected to borrow £ 300 billion from the holiday program and other bailouts this year with huge costs, and total debt has reached £ 2 trillion.

The Bank of England announced last week that the government could have gone bankrupt if it hadn't intervened to provide cash at the start of the crisis.

However, on Times Radio, Mr. Johnson said, “This is the time to invest in infrastructure. This is the time to make these long-term decisions for the good of the country.

Boris Johnson (pictured visiting a school construction site in London today) said he would "double" his investment in "upgrading" Britain and compare efforts with Franklin D Roosevelt's New Deal after the Great Depression in the United States in the 1930s

As a first step in his resuscitation program, Johnson unveiled a £ billion upgrade to school buildings and said he said

As a first step in his resuscitation program, Johnson revealed a billion-pound upgrade of school buildings and said the pandemic's "nightmare" would not mean a return to "austerity measures" – insisting that this would be a "mistake".

Public sector debt was slightly below £ 2 trillion at the end of last month - 100.9 percent of GDP

Public sector debt was slightly below £ 2 trillion at the end of last month – 100.9 percent of GDP

"You have to be careful and the Chancellor will set out our plans for the autumn spending review.

"But in the end you can't go back to what people called" austerity "right now – it wasn't actually austerity, but people called it austerity – and I think that would be a mistake.

"I think this is the moment for a Rooseveltian rapprochement with Britain."

Mr. Johnson said the coronavirus pandemic was an "absolute nightmare" and "disaster" for the country.

"It was a disaster, let's not chop up our words, it was an absolute nightmare for the country," he said.

& # 39; The country went through a deep shock. But in these moments you have the opportunity to change and do things better.

"We really want to dismantle better, do things differently, invest in infrastructure, traffic and broadband – as you call it."

He said there would be "some bumpy times" but Britain would overcome the economic ramifications, adding that people "instinctively" knew it would be difficult.

"We have seen a sharp drop in our GDP and everyone understands that if we emerge from it there will be some rough times, but Britain is an amazingly dynamic, resilient economy and we will weather it very, very well," said he.

The Prime Minister insisted that it was not time to withdraw from economic support now, adding: “The government will continue to be very, very busy with people and businesses will help everyone to do so .

“We had to put our arms around the UK economy, we had to run the coronavirus job retention program, the vacation program, all sorts of amazing credits, bounce-back credits, etc. to help businesses, we just can't step down.

"So what we're going to do in the next few months is to double our original agenda, which was investment, if you remember, in infrastructure, education, technology to bring the country together."

Mr. Johnson said that as usual, Chancellor Rishi Sunak's government spending plans would be revealed in the fall statement.

Mr. Johnson also suggested that there will be no budget by fall, although Keir Starmer (pictured today in Sky News) is calling for a new financial plan next month

Mr. Johnson also suggested that there would be no budget by autumn, although Keir Starmer (pictured today in Sky News) called for a new financial plan next month

However, as part of BBC Four's Today program, Labor chief Sir Keir said: "It is surprising that given the economic crisis we are facing, we do not have a budget for July that puts jobs at the heart of the economic recovery."

As part of the leveling-up plan, the government is committed to improving school facilities and improving the classrooms currently in use for ten years.

Downing Street said the £ 1 billion cash injection would start construction on the first 50 projects in September 2021.

Another £ 560 million will be used for school repairs this fiscal year, while colleges will receive £ 200 million of the £ 1.5 billion that Chancellor Rishi Sunak has promised in his spring budget to move the college estate as quickly over the next five years to change as possible this work may be preferred.

Mr Johnson admitted that the corona virus was a "disaster" for Britain, but insisted that the country get through.

"It was a disaster, let's not chop up our words, it was an absolute nightmare for the country," he said.

& # 39; The country went through a deep shock. But in these moments you have the opportunity to change and do things better. & # 39;

He added, "So what we're going to do in the next few months is to double our original agenda, which was about investing, if you remember, in infrastructure, education, technology to bring the country together." 39;

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