Boris Johnson sets out plan to rebuild economy after coronavirus crisis

Boris Johnson has set out a plan to rebuild the economy in the wake of the coronavirus crisis.

The Prime Minister has pledged £5bn investment for a number of large infrastructure projects, which is hoped will create jobs and aid the economic recovery. 

Mr Johnson said Britain needs to be able to move with "levels of energy and speed that we have not needed for generations” in the wake of the coronavirus crisis.

Delivering a keynote speech at a technical college in Dudley, West Midlands, the Prime Minister said: “It may seem a bit premature to make a speech now about Britain after Covid when that deceptively nasty disease is still rampant in other countries and when global case numbers are growing fast.

“And when many in this country are nervous, rightly, about more outbreaks – whether national or local – like the flareup in Leicester.

“Where, as I promised, we are putting on the breaks, and I thank the people of Leicester for their forbearance.

“And yet we cannot continue simply to be prisoners of this crisis. We are preparing now, slowly, cautiously, to come out of hibernation and I believe it is absolutely vital for us to set out the way ahead so that everyone can think and plan for the future: short, medium and long-term.

“Because if the Covid crisis has taught us one thing: it’s that this country needs to be ready for what may be coming, and we need to be able to move with levels of energy and speed that we have not needed for generations.

Prime Minister Boris Johnson said the nation must act now in “this interval” to plan the response to the coronavirus crisis and fix the problems “most brutally illuminated in that Covid lightning flash”.

He said: "We all knew when we went into lockdown that there would be huge economic costs, we could see what would happen and yet we did it, the United Kingdom, in a display of solidarity not seen since the Second World War.

“And so today we must combine that energy and drive and that concentrated burst of collective willpower that protected the NHS and controlled the virus and saved literally hundreds of thousands of lives and we must work fast because we’ve already seen the vertiginous drop in GDP and we know that people are worried now about their jobs and their businesses.

“And we’re waiting as if between the flash of lightning and the thunderclap with our hearts in our mouths for the full economic reverberations to appear.

“And so we must use this moment now, this interval to plan our response and to fix of course the problems that were most brutally illuminated in that Covid lightning flash.”

He listed these as the social care system and the parts of Government “that seemed to respond so sluggishly”.

The PM said: “Next week, the Chancellor Rishi Sunak will be setting out our immediate plan to support the economy through the first phase of the recovery.”