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Monday newspaper round-up: Government spending, coronavirus, HS2

By Michele Maatouk

Date: Monday 24 Feb 2020

Monday newspaper round-up: Government spending, coronavirus, HS2

(Sharecast News) - Boris Johnson is planning to ramp up government borrowing to spend more than ?1tn a year, increasing the size of the British state to make it bigger than at any point under the 10-year premiership of Labour's Tony Blair. Analysis from The Resolution Foundation predicts government spending will rise above the ?1tn mark for the first time in history by 2023-24. The report, published on Monday, comes as the chancellor, Rishi Sunak, prepares to deliver what is widely expected to be one of the most expansionary Conservative budgets in a generation. - Guardian
Environmental groups have called into question the Bank of England's commitment to tackling the climate emergency while it retains one of Britain's most senior oil company executives on its governing board. Greenpeace joined with Friends of the Earth and the campaign group Oil Change International (OCI) to condemn the role played on the Bank's board of directors by Dorothy Thompson, the executive chair of Britain's largest independent oil company, Tullow Oil. - Guardian

The world's "fragile" economic recovery could be derailed by the deadly Covid-19 outbreak, the head of the IMF has warned, as traders brace for a tumultuous week amid signs the virus is spreading rapidly outside China. Kristalina Georgieva, IMF managing director, said the coronavirus has "disrupted economic activity in China and could put the recovery at risk", urging finance ministers to put "the global economy on a more sound footing". - Telegraph

The boss of the company that owns Britain's largest train factory has said that winning the ?2.75 billion contract to build trains for HS2 is "vital" for its future. Danny Di Perna, global president of Bombardier Transportation, told The Times that he believed the Litchurch Lane factory in Derby would be around "for another century" despite a takeover by the company's French rival Alstom, but emphasised the importance of the HS2 contract. - The Times

A low-cost hotel operator is planning to debut on London's junior stock market next month in what will be the biggest Aim listing of the year so far. Meininger Hotels will launch a ?330 million initial public offering towards the end of March as it prepares to triple the size of its portfolio over the next five years to about 50,000 beds across Europe. - The Times

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