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TAIPEI, TAIWAN, November 24, 2017 /24-7PressRelease/ -- Clifford Beaumont: This week, British Prime Minister Theresa May announced that 4 billion pounds will be spent on regional growth strategies and research and development as she lays out strategies to assist economic growth after Britain exits the EU.
Amid solid international rivalry, Britain is seeking to become a leader in futuristic industries including driverless cars and artificial intelligence when it departs from the European Union in March of 2019.
An economist at Taipei, Taiwan based Clifford Beaumont stated that, after the negative impact of a bungled quick election and with Brexit negotiations running far behind schedule, May is hoping to encourage economic optimism in a bid to help her delicate minority administration through the UK's most unstable period since the Second World War.
As part of the lead up to the finance minister's budget, Prime Minister Theresa May announced a fund to the value of 1.7 billion pounds to assist in the restoration of cities and pledged a further 2.3 billion pounds to help research and development spending.
May stated that this strategy was a long term plan to help build a more solid and fair economy for generations to come.
Economists at Clifford Beaumont believe that the primary challenge of this week's budget will be to enhance the UK's ongoing tepid productivity, which falls behind international peers and is viewed as a significant obstacle for overall economic expansion.
The newly pledged funding is associated with Britain's "Industrial Strategy" and is a move designed to establish a greater number of skilled, high-paying jobs. This strategy was first announced by May after she was voted into office in 2016 to help strengthen Britain's services-dependent economy against negative Brexit-related issues.
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