Regeneration

So the much anticipated truth is out, the chancellor has failed to cut the deficit. He didn’t forget the deficit, he just didn’t do it. This is not surprising since it was largely unattainable in any case. What is perhaps more surprising is the government’s continued belief that it can be cut by pursuing the same strategy it has over the last four years.

Over the last few weeks, there have been several announcements and commitments to major mega-infrastructure investment, including the HS3 northern rail link. Mega-infrastructure is always welcome, provided that it will add value to the regional economies and national sustainability. And even if the economic benefits of many schemes will take many, many years to come to fruition, there is nothing wrong with this and a political commitment to long-term projects and benefit is most welcome.