Javid says would spend up to 3 percent of GDP on infrastructure
The chancellor earlier dismissed Labour spending plans as ‘fantasy’.
Published On 7 Nov 2019
Conservative Chancellor of the Exchequer of the United Kingdom Sajid Javid said a new Conservative government would introduce a fiscal rule allowing it to spend billions of pounds more on infrastructure – up to three percent of annual economic output.
Javid, who said it was a responsible time to invest in the country, said he would keep a balanced current budget for day-to-day spending but would borrow more to invest.
He said investment in long-term projects like road and rail would not exceed three percent of the gross domestic product (GDP).
Source: Reuters