UK Needs £1 Trillion to Boost Growth, London Executives Say [Financial Post (Toronto, Ontario, Canada)]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The UK needs about £1 trillion of investment over the next decade in order to boost growth in the country, according to London business executives. An extra £100 billion ($130 billion) of fresh investment every year would put the country on track to achieve 3% annual growth in real wages and real gross domestic product per capita, according to a report from the Capital Markets Industry Taskforce. A litany of areas could use the extra spending, the report found. For instance, the country's target to build 300,000 new homes every year would cost as much as £30 billion, while the water industry has said it needs an additional £8 billion of investment annually. “The UK economy and its capital markets have fallen behind the US since the global financial crisis,” Nigel Wilson, former chief executive officer of Legal & General Group Plc and chair of “T
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