The government has this morning issued a new plan for infrastructure investment in the UK. It says:
Let me put that in context. In the three years 2007-08 to 2009-10, or the height of the financial crisis in other words, UK investment totalled £126.1 billion.
In the next five years it is planned to be £100 billion and there has been inflation in the meantime.
This is not a government serious about investment. We have the capacity to do £50 billion a year (we did that in 2009-10). So why aren’t we going to do it when interest costs are so low? Surely the time has come to bite the bullet and build the Britain we need?