Prime Minister recommitment to infrastructure spending is welcome, but far from the answer to Britain’s economic crisis

Commenting on the Prime Minister’s speech today, Torsten Bell, Chief Executive of the Resolution Foundation, said:

“In today’s speech, the Prime Minister returned to a key theme of both the 2019 Conservative Manifesto, and the March 2020 Budget, by recommitting to ‘level up’ the country with an ambitious of capital investment.

“This the right thing to do, not least in an era of low interest rates, but far from new. Bringing forward some of this spending can play a helpful, but small, role in supporting our economic recovery.

“The guarantee of an apprenticeship or placement will also help younger adults who have been hit hardest by the pandemic’s labour market impact so far. History tells us that this will require close collaboration with local authorities to create sufficient meaningful roles for young people to do.

“The commitments made today are welcome, but they are a long way from being an answer to the biggest jobs crisis our country has faced in a generation. All eyes are now on the Chancellor to deliver a much more significant plan to drive the recovery in the months and years ahead.”