Johnson says we must lift the trend rate of growth

Britain's Prime Minister Boris Johnson leaves Downing Street to deliver his Conservative Party Conference virtual keynote speech, in London, Britain, October 6, 2020. REUTERS/Toby Melville

LONDON (Reuters) - British Prime Minister Boris Johnson said on Tuesday it would not be enough to return the economy to its pre-COVID performance but rather that it was necessary to lift the trend rate of growth.

“We’re resolving not to go back to 2019 but to do better, to reform our system of government, to renew our infrastructure, to spread opportunity more widely and fairly, and create the conditions for a dynamic recovery that is led not by the state but by free enterprise,” Johnson said in a speech to the Conservative Party’s annual conference.

“After 12 years of relative anemia, we need to lift the trend rate of growth, we need to lift people’s incomes, not just go back to where we were.”

Reporting by William James and Estelle Shirbon; editing by Kate Holton