Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK's Johnson announces urban renewal plans after promise to "level up"

EconomyMay 18, 2021 07:16PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Britain's Prime Minister Boris Johnson walks outside Downing Street, amid the coronavirus disease (COVID-19) pandemic, in London, Britain, April 14, 2021. REUTERS/John Sibley/File Photo

LONDON (Reuters) - British Prime Minister Boris Johnson on Wednesday announced a series of urban renewal projects worth 830 million pounds ($1.2 billion) in towns and cities away from London as part of his promise to "level up" the country's economy.

Johnson, who won a 2019 election thanks largely to voters in struggling regions of England and is facing pressure from nationalists in Scotland and Northern Ireland, also said more than 3,000 interior and business ministry jobs would move to Stoke-on-Trent in central England, Edinburgh and Belfast by 2025.

"As the country gets back on its feet, the government has renewed its commitment to levelling up and tackling the issues that really matter to people," Johnson said in a statement.

Among the projects to get public funds are a new cinema and food hall in northern fishing port Grimsby, a new performance venue in Taunton in western England, and the conversion of retail space into offices and hospitality venues in Sutton-in-Ashfield, a former mining area in northern England.

A further 10 million pounds would be spent improving teaching in four local authorities and a program to help vulnerable young people would be expanded by 18 million pounds.

Gaps in economic productivity between London and other regions of the United Kingdom were as wide as they were in 1901, according to a report for the government last year.

The Resolution Foundation think tank said on Tuesday that Britain lacked a plan to address Brexit, climate change, the impact of the COVID pandemic and other challenges which could weaken its economic performance to levels nearer those of struggling Italy than Germany over the 2020s.

UK's Johnson announces urban renewal plans after promise to "level up"
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
igor bogdanoff
igor bogdanoff May 18, 2021 11:00PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Bing! Bing! Wahoo!
danny Levine
danny Levine May 18, 2021 7:22PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
yeah... it's gonna be a "level up" of corruption
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email