UK looking at new measures to boost growth

Britain's finance minister, George Osborne, is looking at further measures to boost economic growth while sticking with plans to reduce the country's deficit, a government minister said on Sunday.
"I know George is looking carefully at a whole new raft of things that we could be doing to actually give the economy another push and another kick-start in the direction of greater growth," work and pensions secretary Iain Duncan Smith told BBC TV.
"We have a growth strategy. He (Osborne) is reviewing that, he wants to make sure the right things are being done and the same goes for (business secretary) Vince Cable," Smith said.
Britain's economy has barely grown over the past 12 months, putting pressure on Osborne to ease an austerity drive aimed at reducing a deficit of 10 percent of gross domestic product.
He has already asked officials to examine the efficiency of the 50 percent top tax rate, although an early withdrawal of the rate is opposed by the government coalition's junior partner, the Liberal Democrats.
The Independent on Sunday newspaper reported ministers had been asked to identify large infrastructure projects that could be speeded up to revitalise the economy.
Duncan Smith said the government was already doing many things to boost growth, including tax breaks for small businesses and apprenticeships and work placements for young people.
He said the government was sticking with its austerity programme. "Our main target is (that) we are heading to reduce this deficit. Without (this target) we would be paying interest rates the like of Spain and Portugal, which would cost home owners and businesses dramatic amounts of money. So from that standpoint, it is the right programme," he said. The government said in June it would examine how to encourage greater investment in infrastructure programmes, as well as looking at how education, logistics and access to public sector data could be used to help speed growth.
Last week, Osborne defended plans to shake up Britain's building planning system to help the economy despite criticism they could blight countryside areas.
Treasury minister Danny Alexander told Sky News on Sunday such moves could be controversial but were necessary.
"We have to take those risks to support growth and to enable the private sector to lead the economy," he said.