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U.K. Prime Minister to Try to Turn Political Page in Lancashire Speech

U.K. Prime Minister to Try to Turn Political Page in Lancashire Speech
© Reuters.

By Scott Kanowsky 

Investing.com — U.K. Prime Minister Boris Johnson will attempt to convince the British public that he is “on their side” in a speech on Thursday, according to a Downing Street statement.

Johnson will lay out a series of new measures during the address in the English county of Lancashire, as the embattled leader looks to turn the political page after surviving a no-confidence vote from his party’s Members of Parliament earlier this week.

He is set to unveil policies aimed at reversing declining home ownership rates, including plans to extend the right to buy to housing association tenants and expand access to mortgage financing.

Johnson will also promise to deliver reforms to boost productivity and growth.

“As we continue to deal with the Covid aftershocks, and the inflationary impact of the war in Ukraine, our strategy is clear. We will continue to use our fiscal firepower to help the country through tough times – and concentrating our help where we should, on those who need it most,” Johnson is due to say.

The speech comes after recent economic projections warned of sputtering U.K. growth in 2022. The British Chamber of Commerce slashed its annual GDP growth forecast down to 3.5%, while the Organization of Economic Co-operation and Development also said economic activity is “set to slow” this year.

Source: Investing.com

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