British government ready to underwrite infrastructure projects

 LONDON, Sept. 2 (Xinhua) -- British Chancellor¹ of the Exchequer² George Osborne on Sunday said the government would underwrite altogether 50 billion pounds (79.3 billion U.S. dollars) of infrastructure³ and house building projects, in a bid to boost the country's sluggish⁴ economy.

Osborne said the Infrastructure (Financial Assistance) Bill would be introduced in the next few weeks and should become law by the end of October.

The Bill is to give green light to 40 billion pounds of construction projects by using the government's low interest rates to underwrite them.

Projects qualified⁵ for government guarantee must be "nationally significant," ready to start construction within 12 months, financially credible⁶ and be of "good value" for taxpayers⁷.

Meanwhile, ministers are expected to make plans to underwrite up to 10 billion pounds worth of new homes, including guaranteeing the debt of housing associations and private sector⁸ developers.

The government will outline details for these projects very soon as the Parliament resumes from summer break this week.

Commenting on the expansion of the Heathrow airport which has been repeatedly appealed by senior Conservative politicians recently, Osborne did not rule out the possibility of a third runway for Britain's largest airport, and agreed that extra runway capacity was needed in the South East of England.

"It is a question of where it should go - Heathrow, a new (Thames) estuary⁹ airport, Stansted, Gatwick - people have lots of different options," the Chancellor said.

On the same day, British Prime Minister David Cameron also expressed his determination to engine infrastructure projects in the country so as to promote the slugging economy, in an article in the local paper Mail on Sunday.

"Frankly¹⁰, I am frustrated¹¹ by the hoops¹² you have to jump through to get anything done - and I come back to Parliament more determined¹³ than ever to cut through the dither that holds this country back." Cameron wrote.

The government's proposal for more construction projects has encountered strong opposition¹⁴ from some environmentalists and local residents who are concerned about potential damage to green belts and the so-called "English countryside landscape."

1 chancellor   

n.(英)大臣；法官；(德、奥)总理；大学校长

参考例句：

• They submitted their reports to the Chancellor yesterday.他们昨天向财政大臣递交了报告。
• He was regarded as the most successful Chancellor of modern times.他被认为是现代最成功的财政大臣。

2 exchequer   

n.财政部；国库

参考例句：

• In Britain the Chancellor of the Exchequer deals with taxes and government spending.英国的财政大臣负责税务和政府的开支。
• This resulted in a considerable loss to the exchequer.这使国库遭受了重大损失。

3 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

4 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

5 qualified   

adj.合格的，有资格的，胜任的，有限制的

参考例句：

• He is qualified as a complete man of letters.他有资格当真正的文学家。
• We must note that we still lack qualified specialists.我们必须看到我们还缺乏有资质的专家。

6 credible   

adj.可信任的，可靠的

参考例句：

• The news report is hardly credible.这则新闻报道令人难以置信。
• Is there a credible alternative to the nuclear deterrent?是否有可以取代核威慑力量的可靠办法？

7 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

8 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

9 estuary   

n.河口，江口

参考例句：

• We live near the Thames estuary.我们的住处靠近泰晤士河入海口。
• The ship has touched bottom.The estuary must be shallower than we thought.船搁浅了。这河口的水比我们想像的要浅。

10 frankly   

adv.坦白地，直率地；坦率地说

参考例句：

• To speak frankly, I don't like the idea at all.老实说，我一点也不赞成这个主意。
• Frankly speaking, I'm not opposed to reform.坦率地说，我不反对改革。

11 frustrated   

adj.挫败的，失意的，泄气的v.使不成功( frustrate的过去式和过去分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's very easy to get frustrated in this job. 这个工作很容易令人懊恼。
• The bad weather frustrated all our hopes of going out. 恶劣的天气破坏了我们出行的愿望。 来自《简明英汉词典》

12 hoops   

n.箍( hoop的名词复数 )；（篮球）篮圈；（旧时儿童玩的）大环子；（两端埋在地里的）小铁弓

参考例句：

• a barrel bound with iron hoops 用铁箍箍紧的桶
• Hoops in Paris were wider this season and skirts were shorter. 在巴黎，这个季节的裙圈比较宽大，裙裾却短一些。 来自飘（部分）

13 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

14 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。