Bloomberg News

Johnson Says London to Get Investment in Infrastructure Spending

June 24, 2013

London Mayor Boris Johnson said the capital will benefit from investment in infrastructure projects when the U.K. Treasury announces plans this week for 50 billion pounds ($77 billion) of capital spending in 2015-16.

“I think the Treasury really get the point; if you invest in London and in the infrastructure, you turn the wheels of the rest of the economy and I think you are going to see a bit of that,” Johnson said in an interview with Bloomberg Television in London today.

Johnson said on June 11 that Prime Minister David Cameron’s government should invest in London as the “supercharged motor” of the U.K.’s recovery, putting spending into infrastructure projects such as a new hub airport, with further housing needed to keep the capital “firing on all cylinders.”

Chief Secretary to the Treasury Danny Alexander will set out the government’s capital-spending plans on June 27, a day after Chancellor of the Exchequer George Osborne gives details of his deals with his fellow ministers to cut 11.5 billion pounds from their budgets for the year beginning April 2015.

To contact the reporter on this story: Kitty Donaldson in London at kdonaldson1@bloomberg.net; Stephen Young in London at syoung60@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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