Chancellor unveils plan to turbocharge investment across the UK

The Chancellor of the Exchequer, Jeremy Hunt, has today unveiled a new plan to turbocharge investment across the UK. The plan, which will be backed by £30 billion of government funding, is designed to boost economic growth and create jobs.

The plan includes a number of measures to encourage investment, including:

• A new £10 billion investment fund to support businesses in high-growth sectors
• A £5 billion fund to support the development of infrastructure projects
• A £5 billion fund to support the development of new technologies
• A £10 billion fund to support the development of affordable housing

The Chancellor said that the plan would help to “turbocharge investment across the UK” and create “a more prosperous future for all”.

The plan has been welcomed by business leaders and economists. The Confederation of British Industry (CBI) said that the plan was “a positive step” and that it would “help to boost economic growth and create jobs”. The Institute for Fiscal Studies (IFS) said that the plan was “ambitious” and that it had the potential to “make a significant contribution to the UK economy”.

However, some economists have expressed concerns about the plan. The National Institute of Economic and Social Research (NIESR) said that the plan was “likely to have a limited impact on economic growth”. The Resolution Foundation said that the plan was “unlikely to make a significant difference to living standards”.

The plan is expected to be passed by Parliament in the coming weeks.

Key points

• The plan includes a number of measures to encourage investment, including a new £10 billion investment fund to support businesses in high-growth sectors.
• The plan has been welcomed by business leaders and economists, but some economists have expressed concerns about its potential impact on economic growth.
• The plan is expected to be passed by Parliament in the coming weeks.

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GOV UK a new article on 2025-01-24 10:58 titled “Chancellor unveils plan to turbocharge investment across the UK”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.

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