Is George Osborne planning to cut investment spending?

Posted on

The Treasury issued a very breathy press release overnight saying that:

Infrastructure at heart of Spending Review as Chancellor launches National Infrastructure Commission


In his statement, he will pledge £100 billion in infrastructure spending by 2020 — including full funding for the £15 billion Roads Investment Strategy.

What the release does not say is that this may be a cut in real spending plans. According to the July 2015 OBR forecasts planned investment spending for the next five years was:
Screen Shot 2015-10-30 at 06.35.31

So why the reduction now?

At the very least a little more detail on all such numbers would seem to be needed.