Bank of England Boss on Investment in Infrastructure

by Jeremy on 04-Oct-2013

A short article in the Telegraph on 2 October reports an address by Mark Carney, the Governor of the Bank of England, in which he makes very clear that Britain’s economic recovery will depend on what happens in the country’s broader economy and that, important as London is, the recovery will be built on growth outside the capital. He cites East Anglia as an example of what he means by “outside the capital”.

The article is principally about that subject but in its final paragraphs Mr Carney covers the need for Britain to spend a great deal more on infrastructure. “There’s an infrastructure deficit in transport and beyond,” he says adding, most importantly, that “What is clear in the UK is that there is a lot of money available for well-thought through infrastructure projects.”

So, we ask, why are there no private investors for HS2? Why is the government going to fund the project to the tune of at least £50 billion – using your money and mine? Could it possibly be that this project is generally considered not to be “well-thought through”? And perhaps both the Bank of England and private investment companies are all well aware of this?

Read the full article here.

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