The Chancellor will promise to increase infrastructure spending on major projects including road, railways and housing in his first budget.
He will set out Tory plans to “level up” the economy despite fears coronavirus could mean election pledges fall by the wayside.
Boris Johnson promised to invest in the “red wall” towns across the North and Midlands after the Tories won the election. His new Chancellor Rishi Sunak, appointed less than a month ago, will pledge to triple the investment made over the last 40 years.
Sources suggested he could promise a total £600bn for capital spending by the middle of 2025. There will also be more money for broadband and scientific research to help boost the UK’s post-Brexit economy.
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