This archive report was first published on 8 July 2020.
On July 8, 2020, Britain unveiled a post-coronavirus recovery plan to kickstart its economy, with a focus on infrastructure investment and green jobs.
Prime Minister Boris Johnson has vowed to 'build, build, build' in an 'infrastructure revolution' for schools, affordable housing, road maintenance, and public transport.
Finance Minister Rishi Sunak is due to deliver his spending plans, which include £3 billion in green investment, £2 billion in grants for households to insulate homes, and £1 billion for public sector buildings.
The plan aims to reduce carbon emissions to net zero by 2050 and tackle climate change.
However, the UK's economy has suffered a significant contraction, with a 2.2% decline in the January-March period, and experts expect further damage in the second quarter.
The Bank of England has pumped £300 billion in cash stimulus to prop up the virus-hit economy, and experts estimate the total cost of state emergency measures could run as high as £300 billion.
