Off The Wire
More investment needed to boost UK economic growth - Bank of England's Carney
LONDON (Reuters) - Bank of England Governor Mark Carney said higher government spending, as well as more investment by businesses, is needed to get Britain’s economy out of its slow growth mode and low interest rates made such investment easier to do.
“This is an environment in which, yes, the right infrastructure, the right corporate investment projects make sense and will be necessary in order to ultimately get us out of this situation,” Carney told lawmakers in the upper house of Britain’s parliament.
Prime Minister Boris Johnson gave the “green signal” for a high-speed rail line connecting London to northern England earlier on Tuesday, and finance minister Sajid Javid has said he will focus on infrastructure in the government’s first post-Brexit budget statement on March 11.
Reporting by David Milliken and Costas Pitas; Writing by William Schomberg