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UK can afford to spend more on economy - government

UK can afford to spend more on economy - government
FILE PHOTO: The Canary Wharf financial district stands beyond the Greenwich Maritime Museum in London, Britain August 11, 2019. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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LONDON (Reuters) – Britain has a strong fiscal position and, with borrowing costs at a record low, it can afford to spend more to help its economy grow, the government said on Monday.

Rules for the budget will be reviewed and will keep control on public debt, the government said in a briefing note accompanying the Queen’s Speech to parliament, echoing comments made previously by finance minister Sajid Javid.

A national infrastructure strategy will be published in the autumn with a view to closing the gap in productivity between London and other parts of the country and addressing the challenge of climate change, the briefing note said.

Earlier on Monday, Javid said he planned to deliver Britain’s first post-Brexit budget statement on Nov. 6, less than a week after the country’s deadline for leaving the European Union, if it exits with a deal.

(Writing by William Schomberg, editing by Andy bruce)

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