“British Finance” accepts $ 21 billion with public transport projects outside London
On Wednesday, British Finance Minister Rachel Reeves pledged to allocate 15.6 billion pounds ($ 21.1 billion) for transport projects outside London, which has not been invested for a long time.
In a letter to London, the northwest of London, the Northwest of the capital, Reeves declared the first investment responsibilities of the expenditure review on June 11, which determines the budgets of government departments until 2029.
The Labor Party government, headed by Prime Minister Kair Stormer, who has been heavily defeated in this year’s local elections, is under pressure to prove that it is conducting improvements to public services and infrastructure.
British cities outside the capital are suffering from a shortage of productivity compared to their peers in other countries because companies such as the Organization for Economic Cooperation and Development (OECD) define the weakness of old and limited transport networks, which is a major factor.
“The rest of the country in Britain does not rely on a small number of places,” said Reeves. The previous focus on investing in public infrastructure in areas where the highest reliable economic returns has been in place has led to support for growth in very few places and creating large gaps between the regions.
Most of the investment of 15.6 billion pounds from the previous conservative government has been allocated, which has canceled some of the high -speed railway that connects the North and Southern areas and promised to re -allocate funds for local projects. However, many city areas are waiting for the central government approval.
Difficult options
Financial commitment to fund transport projects between 2027-2028 and 2031-2032 on Wednesday.
These projects include West Midlands, Greater Manchester, Northeast of the Capital, and South Yorkshire in local public transport, along with the first mass transport system in West Yorkshire.
Britain has been conducting periodic reviews on government spending since 1998, but it has been covered for many years since 2015, with the exception of a review in 2021, focusing on Kofid -19.
In view of difficult options between the Institute of Financial Studies, the Independent Institute, this review, this review is one of the most important internal policy events of the Labor Party government.
Reeves said that amid reports of tensions in the government, he rejected good proposals from its colleagues due to budget limits. “There are good things I have to refuse,” said Reeves. The reason for this is the importance of controlling the public economy. ”
