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Finance Minister Rishi Sunak said on Wednesday that the British government will allocate 2.5 billion pounds ($3.2 billion) on road repairs fixing approximately 50 million potholes in roads over the next five years.
According to Sinak, the extra 500 million pounds of spending on road repairs in the coming years was part of a larger agenda to improve living standards in the country outside its capital city, London.
The finance minister is expected to publicize investment projects enclosed in his tax-and-spending plan to fulfill advocacies promised during the previous elections to raise public investment to 3% of economic output. This is not to mention other measures slated to negate the negative effects of the outbreak of the coronavirus.
During the 2018-2019 financial year, the U.K. spent 10.2 billion pounds on its road projects. This time, the pothole damages accounted for 90% of motor insurance claims in the country apart from endangering lives of motorcyclists.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
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