The UK’s economic recovery will accelerate over the next year, forcing the Bank of England to keep interest rates higher for longer, according to the National Institute of Economic and Social Research (Niesr).

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Reuters

United Kingdom

UK should double public investment to boost growth, think tank says

Britain needs to spend an extra 50 billion pounds ($64 billion) a year on public investment to boost productivity and long-run growth, largely funded by public borrowing, the National Institute of Economic and Social Research said on Wednesday.

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The UK’s new chancellor of the exchequer has made kick-starting her country’s anemic economy a defining mission. But her first actions in the job may put that goal further out of reach, according to two respected research groups.

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The National Institute of Economic and Social Research has called for the Chancellor to spend an extra £50bn a year on public investment

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UK recovery ‘will accelerate and force Bank to keep interest rates higher for longer’

UK recovery ‘will accelerate and force Bank to keep interest rates higher for longer’

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