News World Johnson pledges "Rooseveltian" spending boost after COVID hit

Johnson pledges “Rooseveltian” spending boost after COVID hit

 

 

British Prime Minister Boris Johnson promised a “Rooseveltian” boost to public spending to help the country’s economy recover from the coronavirus shock and said a return to austerity would be a mistake.

Johnson said he would double down on his plans to increase investment and said his government – which has already announced emergency spending and tax measures worth an estimated 133 billion pounds – would continue to help people and businesses.

“This is the moment for a Rooseveltian approach to the UK,” Johnson told Times Radio on Monday.

Former U.S. President Franklin D. Roosevelt’s “New Deal” programme, which included a raft of job-creating public works projects, helped the United States recover from the Great Depression.

“I do think the investment will pay off because this is a very, very dynamic, very productive economy,” Johnson said, promising a platform that would encourage companies to invest in capital and in skills training.

Earlier on Monday, Britain’s debt office said it plans to sell a record 275 billion pounds ($340 billion) of government debt between April and August to pay for the huge spending response to the coronavirus pandemic, more than double the amount sold in the whole previous financial year.

(Reuters)

Top Stories

91 new cases of COVID-19 on Monday

The Health Ministry announced 91 new COVID-19 cases on 26 October, out of 2,285 laboratory tests, taking confirmed infections to 3,636. The break-down of new...

Bottled water withdrawn from Cyprus market

The Health Ministry is informing consumers that within the framework of the officials tests conducted in the market, the Ministry’s health services have tested...

President: Attack against Macron insults European values

In a written statement, President Anastasiades said that this attack, against the French President from the leader of a country which is candidate for...

Finance Minister: No lockdown forseen in 2021 state budget

Minister of Finance Constantinos Petrides called on MPs to approve the 2021 state budget given the critical moments facing Cyprus due to the coronavirus...

Mitsotakis-Anastasiades have working lunch

Prime Minister Kyriakos Mitsotakis on Monday had a working lunch with Cyprus President Nicos Anastasiades. According to government sources, during the lunch they discussed Turkey's...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...