The definition of Treasury Brain. Scrapping big infrastructure projects that could actually produce the growth and productivity we've lacked for 14 years, in order to meet the same arbitrary fiscal rules that helped stop us growing in the first place www.theguardian.com/politics/202...
Exclusive: departments asked to model cuts of up to 10% despite Rachel Reeves’ vow to invest in growth
Some of those schemes are pointless, creating new roads increases congestion and makes meeting climate targets harder. Other schemes are needed.
In fairness many of the “cuts” and infrastructure projects declared by the tories but never given funding. Such as the “40 new hospitals”. Also, spending reviews always ask for models of cuts.
Totally agree that 'austerity' is not the route to growth. The UK finances are not an individual's finances. The right Public spending is needed, to fuel investment. New roads are not the answer however. Where has the vision of green energy investment gone? We need power grid upgrades!
Dogmatic adherence to dreamt up fiscal rules that are no real use to anyone. The UK has a unique currency, and infrastructure is sadly lacking in this country. This is deeply annoying and not the CHANGE that the Labour Party promised us during the election campaign. 😠
Absolutely nuts.
Labour's messaging is baffling at the moment. No tax rises but no austerity. Change fiscal rules to allow more infrastructure spending but cut infrastructure spending. Contradictions all over the shop
I don't understand how this can keep happening? How can anyone in The Treasury look at the smouldering wreck of the last 14 years and think, "yeah, let's keep not investing"?? Group think is a terrible thing
Scrapping the crappy, poor cost-benefit infra projects is quite correct, e.g. most new road building. But they should be replaced by better alternatives.
Big road projects, which is what most of these are, are not efficient ways of generating long term growth.
Putting us all back into the office on infrastructure so slow and potholed and creaky journeys are slower and more hellish so we can spend our dwindling pay cheques in chain food places that can't get staff or quality ingredients anymore thanks to brexit. Must be a word other than progress for this