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Boris Announces New Major Funding Scheme

Boris Johnson has announced plans to increase infrastructure spending in response to the economic damage caused by Covid-19.

In attempting to build anticipation for the announcements he proclaimed that his plans will be similar to that of Roosevelt’s New Deal from the 1930’s.

During a speech yesterday, the Prime Minister outlined plans which included a £5 billion infrastructure project.

This included increased funding for schools with a rebuilding and refurbishing programme. This is set to be part of a ten year plan to improve education in the country.

Roads, railways and hospitals in a bid to create jobs and kickstart economic growth amid the coronavirus pandemic.

During his speech, the Prime Minister confirmed that austerity would not be the answer: “We will not be responding to this crisis with what people called austerity, we are not going to try to cheese-pare our way out of trouble, because the world has moved on since 2008,”

Speaking on Times Radio earlier this month, Boris said: “This is the time to invest in infrastructure, this is the time to make those long-term decisions for the good of the country.

“You have to be careful, and the Chancellor will be setting out our plans in the Spending Review in the autumn.

“But, in the end, what you can’t do at this moment is go back to what people called ‘austerity’ – 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 approach to the UK.”

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He continued on to discuss the effect coronavirus has had on the UK and the opportunity for change.

“This has been a disaster, let’s not mince our words, this has been an absolute nightmare for the country,” he said.

“The country has gone through a profound shock. But in those moments you have the opportunity to change and to do things better.”

He added: “So what we’re going to be doing in the next few months is really doubling down on our initial agenda, which was all about investment, if you remember, in infrastructure, in education, in technology, to bring the country together.”

Downing Street said a £1 billion cash injection would see work beginning to take place on the first 50 projects as soon as September 2021.