Johnson says he is prepared to increase public borrowing

Favourite to be PM is challenged over how he would invest in services and cut taxes

Boris Johnson has said he would be willing to increase public borrowing to pay for infrastructure projects as he was pressured over how a government he led could invest heavily in new schemes and public services while also cutting taxes.

Johnson, the overwhelming favourite to replace Theresa May as prime minister in just over three weeks, said that while there was fiscal “headroom” to spend more, if needed he would use low interest rates to borrow for new infrastructure.

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