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Britain reduces discount rate to boost infrastructure
The British Treasury has announced a reduction in the discount rate used to evaluate long-term capital projects in public spending, decreasing it from 3.5% to 3%. The aim is to boost investment in infrastructure, transportation, and housing within the UK. This change helps narrow the gap between the present value and the expected benefits of long-term projects, giving projects that take years to generate returns greater economic significance and making government spending decisions more equitable. The government will reveal the full details of the plan as part of a budget to be announced on October 28, and it is expected that the Chancellor will outline the key elements of the plan in his first speech in office.
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