| Topic: | Re:Crossrail trains entirely publicly funded to the tune of £1bn | |
| Posted by: | David Giles | |
| Date/Time: | 01/03/13 11:37:00 |
| Gordon Brown was the master of PFI fudges with the result that many public services such as the NHS are now paying well over the odds for goods and services and are billions of pounds in debt. I agree with you that it is good that the present Government is moving away from Gordon Brown' ill-conceived and very costly PFI schemes. Thanks to the UK's AAA credit rating with Fitch's and Standard & Poor's, and AA+ rating with Moody's, and the confidence of international markets in the current Government, the Government can raise money cheaper than the private sector. It therefore makes sense for the Government to fund Crossrail. £1 billion seems like a lot of money but it is relatively small when compared to Government spending as a whole. Crossrail is a major infrasatrure project that, after years of delays under the previous Labour Government, is now well underway. It will result in signficant economic and social benefits, not only for London and Londoners, but for the country as a whole. Crossrail will stimulate the economy and employment and improve the environment by taking traffic off the roads. That will in due course stimulate tax revenues thereby paying the Government back for its investment. |