UK to announce 5 billion pounds capital investment

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December 4, 2012 10:42 PM EST

Britain's finance minister George Osborne will invest 5 billion pounds in schools, science and transport capital projects, the government said on Tuesday, funded by departmental savings across the next two-and-a-half years.

"We are committed to solving today's problems, but also preparing for tomorrow's challenges by investing in our future and equipping Britain for the global race," a Treasury spokesman said.

Osborne, struggling to complete a tough austerity programme to bring down British government borrowing, has come under pressure to do more to boost a flagging economy.

($1 = 0.6213 British pounds)

(Reporting by Matt Falloon and Mohammed Abbas)

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Copyright 2012 Thomson Reuters UK. All rights reserved.

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