Corona virus: Johnson puts "ambitious" economic recovery plan

Corona virus: Johnson puts “ambitious” economic recovery plan

Media playback is not supported on your device

Explain the mediaBoris Johnson says Britain must “adopt, adopt, adopt” to recover from the coronary virus crisis

Boris Johnson now said it was time for “ambition” about the future of the UK, as he devised a recovery plan after coronavirus infection.

The Prime Minister pledged to “seize this moment” to solve long-term economic problems and promised a “new deal” of 5 billion pounds to build homes and infrastructure.

He added that the plans stipulated in the Conservative Party’s election manifesto would be accelerated and “intensified.”

The Labor Party and the Central Bank of Iraq have said they are not focusing enough on creating jobs.

“There are not a lot of deals and not a lot of new things,” said Labor Party leader Sir Ker Ker Starmer.

The BBC’s economic editor, Faisal Islam, said there was nothing new in the plans, but he pledged from the Treasury “to accelerate the already announced capital investment and assume higher levels of debt.”

Chancellor Rishi Sonak later confirmed that he would provide an economic update on July 8 that “sets the next stage in our plan to secure the recovery.”

The Prime Minister’s speech came as new figures showed the British economy was contracting faster than at any time since 1979 between January and March.

In a wide-ranging speech in Dudley, in the West Midlands, Johnson pledged to “build, build, and build” to soften the “economic shock” of the coronavirus.

He said the government wanted to continue its plans for “upgrading” – one of its main slogans in last December’s elections – as it left “too many parts” of the country “neglected and neglected.”

The Prime Minister added that infrastructure projects in England will “accelerate” and that there will be investment in new academic schools, green buses and new broadband.

Projects in the £ 5bn investment plan include:

  • £ 1.5 billion to maintain and build hospitals, eliminate mental health facilities and improve monitoring and evaluation capacity – the government said this was “new” money in addition to the £ 1.1 billion in the spring budget
  • £ 100 million for 29 road projects including Sandwell bridge repairs and A15 road improvement in Humber – this money has already been announced
  • More than a billion pounds of new school buildings, as announced on Monday – this cash comes from the government’s current infrastructure plan
  • £ 12 billion to help build 180,000 new affordable homes for ownership and rent over the next eight years – combining three containers of funds already announced by former Conservative governments and the Johnson administration

Other projects announced in the government spring budget, which will now be accelerated, include:

  • £ 83m for prison maintenance and facilities for young criminals, and £ 60m for temporary prison facilities.
  • £ 900m for “shovel-ready” local projects in England this year and 2021
  • £ 500,000 – £ 1 million for each area in the Cities Fund for spending on improvements to parks, highways, and transportation

‘Economic impact’

Johnson admitted that jobs may be lost due to the economic blow caused by the epidemic, but he said that the new “opportunity guarantee” would guarantee every young person an opportunity to be apprenticed or placed.

In response to a question about whether the plans went far enough for those who ended up in unemployment, the Prime Minister said that the strategy was related to “jobs, jobs, jobs” and there would be no return to austerity.

But he could not determine the number of roles to be created through his plan, adding: “We do not yet know what the full economic impact will be … [but] We will do everything we can to move this economy. “

The Prime Minister loves a great historical comparison.

He is a student keen on Winston Churchill – he has written a book on him.

The comparisons that the government has sought to draw over the past few days have been with former US President Franklin Delano Roosevelt and his “new deal”.

As my Reality Check colleagues point out, the plan that was developed today is just a little kid compared to what the FDR did, and much of it is re-advertising what we already knew the government was planning.

But Boris Johnson is trying to put in a broader context the government’s vision – and is proud to say that he wants to spend a lot to revive the economy and get it out of recession.

Under what Johnson called “project speed,” planning laws to encourage construction will also be simplified.

The changes planned for September include:

  • Allowing many commercial buildings to change to residential use without applying planning
  • Cut the regular planning process for builders who want to demolish and rebuild vacant residential and commercial buildings as homes
  • Allow homeowners to build on their property “through the fast track approval process” and are subject to neighbor consultation

The government said bars, libraries and village shops will be protected from changes because they are “essential to the lifeblood of societies.”

Mr. Johnson admitted that planning changes might face resistance in traditional polling areas, but he said: “Sometimes you have to go ahead.”

The government believes that its current plans to boost infrastructure spending are already an important boost for the economy, and they want to see what happens when it reopens.

A bunch of numbers released today shows an increase in family savings during the closure, but will people have confidence to spend them?

The scale of government support for companies and employees in recent months may justify the speech, such as the new deal. Support may be required at this level, which is far from being excluded.

But for the time being, they are stopping the fires as they build permanent scars on the British economy.

Mr. Johnson also tried to allay conservative fears that he had turned left, saying, “I am not a Communist.”

Instead, he claimed that he was inspired by US President Franklin D. Roosevelt, who led America out of the Great Depression with his new deal in the 1930s.

In the wake of the Wall Street crash in 1929, President Roosevelt launched one of the largest and most expensive American government programs that included building schools, hospitals, and dams.

A view of a South Yorkshire constituency

Comment on the photo

Young worker Lisa Williams is concerned that young men will be severely beaten

In the previous seat of the Roth Valley Valley “red wall” – which Labor Conservatives won for the first time in a general election last year – there was a mixed response to the announcement of employees and employers.

David Shaw, chief operating officer of a manufacturing company, said the investment announcement was “positive” and praised the government’s vacation plan during the crisis to save companies.

But Lisa Williams, director of the Dennington Community and Youth Center, said of the promised investment, “We haven’t seen that happen yet,” she said.

“On an annual basis, successive governments have made promises, and these areas have not seen that yet,” she said, adding that they are concerned about the economic impact on young people.

Jane Maxwell, a shop owner in Maltepe, said she was skeptical of the amount of investment on high streets, saying more short-term help was needed.

“We are facing an economic crisis, the largest crisis we have seen in a generation, and the recovery must be commensurate with that,” said Labor Party leader Sir Ker Keer Starmer.

“It is a re-announcement of many of the pledges and commitments regarding data, so this is not enough.”

Photo copyright
PA Media

Comment on the photo

Sir Kerr Starrmer says more focus on jobs is needed

The Labor leader added: “We will not argue against the recovery plan, but the focus should be on jobs.”

The Director of the Central Bank of Iraq, Caroline Verbern, said that the Prime Minister identified “the first steps on the road to recovery”, but added that “the focus on saving the viable companies cannot slip.”

Leave a Reply

Your email address will not be published. Required fields are marked *