The UK Chancellor, Rishi Sunak, has confirmed a change in the fiscal rules that will allow for a £20 billion annual boost in investment. This change is aimed at stimulating economic growth and creating jobs in the country.
The new fiscal rule change will provide the government with more flexibility to increase public investment without breaching borrowing limits. This move comes as the UK economy continues to recover from the impact of the COVID-19 pandemic.
According to Sunak, the government’s priority is to support businesses and create opportunities for people across the UK. The £20 billion annual investment boost is expected to help achieve these goals and drive economic recovery.
The Chancellor emphasized the importance of investing in infrastructure, innovation, and skills to ensure long-term prosperity for the UK. This investment is seen as crucial for boosting productivity, driving growth, and creating a more resilient economy in the post-pandemic era.
Sunak also highlighted the government’s commitment to sustainable and inclusive growth, stating that the investment will focus on projects that benefit all regions of the UK. This approach is aimed at leveling up the economy and ensuring that no one is left behind in the recovery process.
Overall, the fiscal rule change for a £20 billion annual investment boost is a significant step towards supporting economic recovery and creating a more prosperous future for the UK. The government’s focus on infrastructure, innovation, and skills is expected to drive growth, create jobs, and build a stronger economy for all.
