A few thoughts on your excellent editorial ‘Bigger, Faster and Better?’ (LTT 18 Mar) for your transport historian to ponder:
It’s the vision thing.
With monetary and fiscal policy ineffective, all the Chancellor has left in his locker is supply-side economics.
The cut in the discount rate to 3.5% and the doubling of the appraisal period to 60 years in the 2003 Green Book with no cut-off BCR changed the appraisal game fundamentally.
The Office for Budget...
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