UK Finance Minister Seeks to Reverse Falling Public Investment, But Warns Fiscal Constraints Limit Rapid Spending Increases
• UK Finance Minister Jeremy Hunt hopes to reverse decline in public investment forecast in latest budget plans • Public sector net investment forecast to fall from 2.6% of GDP currently to 1.8% by 2028/29 • Hunt says he froze capital spending last year due to difficult fiscal situation and battle against inflation • Hunt added capital budget had previously been raised to around 100 billion pounds from 70 billion • UK Opposition Labour leader Starmer to say Labour won't be able "to quickly turn on the spending taps" if they win power