Britain will spend way out of recession: Darling
Britain will boost public spending to help pull the economy through a looming recession, finance minister Alistair Darling said in an interview published Sunday.
"This is a time when you have to support the economy," Darling, Chancellor of the Exchequer, told the Sunday Telegraph newspaper.
"You will see us switching our spending priorities to areas which make a difference."
His comments come ahead of crucial data this week that are expected to show that the British economy shrank in the third quarter after zero growth in the second. The technical definition of a recession is two straight quarters of negative economic growth.
Darling told the paper that Britain would embark on large government projects to help prop up the economy, with a "reprioritising" of spending to funnel cash into areas like housing, energy and small businesses.
The government would also press ahead with plans for two new aircraft carriers and a new nuclear deterrent programme, he added.
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