UK Markets closed

UK's Javid says would spend up to 3% of GDP on infrastructure

MANCHESTER, England, Nov 7 (Reuters) - British finance minister Sajid Javid said a new Conservative government would introduce a fiscal rule allowing it to spend billions of pounds more on infrastructure up to 3% of annual economic output.

Javid, who said it was a responsible time to invest in the country, said he would keep a balanced current budget for day-to-day spending, but would borrow more to invest.

He said investment in long-term projects like road and rail would not exceed 3% of gross domestic product. (Reporting by Kylie MacLellan and William Schomberg; writing by Kate Holton)