U.K. Levelling Up Plan Will Boost Growth This Year, Says L&G CEO
The U.K. is poised for growth and the government’s leveling up measures will start to take effect in 2022, according to Legal & General Group Plc CEO Nigel Wilson.
“We desperately recognise that we need to have a huge investment-led boom here in the U.K.” he said in an interview for Bloomberg Television. “We’re poised for growth.”
L&G is the among country’s leading infrastructure investors and has invested around 30 billion pounds ($40.7 billion) in various projects to help ‘level up’ poorer parts of the country, Wilson said. The latest reading of the firm’s Rebuilding Britain Index showed the U.K. has made progress on tackling unemployment but had fallen behind in housing and health investment.
Wilson said that although results hadn’t come through in the data yet he was hopeful that would change this year.
“I’m seeing great activity now in Sheffield and Sunderland,” he said. “It’s not really coming to the numbers yet, but there’s an intent purpose and there’s the beginnings of a plan and I’m really happy with the direction of travel.”
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