Nick Clegg outlines plans to boost UK's economy

Deputy Prime Minister Nick Clegg has outlined the governments plans to boost the economy of the country, in a speech to the London School of Economics.

He stated how the international situation has changed dramatically and is worse, even, to just six months ago, what with slowdown in overseas markets, continued turmoil in the Eurozone and ongoing uncertainty in the US.

However, he vowed that the government "would not sit on their hands while the global economy falters", and that while the government must stay firm on tackling the deficit, there are levers that can be pulled to stimulate growth, not least to deliver infrastructure.

40 of the biggest infrastructure projects that are most important to growth are to be given a new special priority status, and each one will be examined to make sure there are no delays, no blockages and that the economy feels the benefits as quickly as possible.

Infrastructure projects include high speed broadband rollout, the national grid, improvements to the rail network like Crossrail and Great Western Electrification and projects to reduce road networks congestion.

It was announced that Danny Alexander, the Chief Secretary, will be charged with making sure capital is not being stockpiled and that it is put to good use.

Clegg said: "Government is not helpless. The Coalition is not reluctant. Despite the darkening global picture, despite the need to stay on top of the deficit, we’ll do whatever it takes to return our economy to health. Whether driving cooperation abroad or pulling the right levers at home, as I said, a gear change for growth."

Further information:
BBC