Tag Archives: economic recovery plan

Invest More and Invest Quickly: The Prime Minister’s New Deal

As  Vijay Bange commented in his blog post on Tuesday,  Boris Johnson has announced £5bn of new funding for building and infrastructure projects in the UK.

This sounds like a lot of money, but in real terms it is not anything like enough to restart the economy in the manner suggested by the Government. In the heady days before COVID-19, Chancellor Rishi Sunak announced new investment into infrastructure in the UK totaling £600bn between now and 2025. By comparison, £5bn is nothing like what is required to “level up” the economy in the way promised by the Chancellor. In his Dudley address, the Prime Minister confirmed that the £5bn promised was an accelerated release of those funds promised by the Chancellor, but it remains to be seen whether that £600bn will ultimately be released.

To read the full text of this post by Duane Morris partner Steve Nichol, please visit the Duane Morris London Blog.

Boris Johnson Announces Plans to Rebuild Britain

As the government eases the lockdown provisions around the country, the Prime Minister today made a speech in Dudley, the historical heart of the industrial revolution, setting out his £5 billion economic recovery plan for the country. This is the government’s plan to build our way out of the recession caused by the pandemic, and has been compared to the New Deal proposed during the Great Depression by US President Franklin D Roosevelt.

To read the full text of this post by Duane Morris partner Vijay Bange, please visit the Duane Morris London Blog.