A committed fiscal conservative like UK Chancellor George Osborne was never going to deviate from Government’s hard-wired policy of austerity. Nobody really expected a change of course in his 2013 Budget, not even after his recent humiliation by Moody’s downgrade of Britain’s triple A credit rating – a humiliation not because of the fundamental impact of the downgrade, which was negligible, but because Osborne himself had placed such high importance on retaining the AAA status.
HS2: Is there veracity in the velocity?
Promoters of the new high speed rail line (HS2) between London and Birmingham claim that it will generate £2 of economic benefit for every £1 spent. The Government says the benefit will be lower, around £1.40. But if a number is the answer, then people are asking the wrong question. What is the real benefit […]