Further massive cuts would needlessly put Britains recovery at risk. Investment spending is special: it often pays for itself by producing assets such as roads or research labs which contribute to productivity and growth. Exempting such spending -as advocated by the opposition Labour Party- would obviate the need for £28 billion of cuts. Total British investment, public and private, is the lowest in the G20. Beginning to rectify this would hardly cause a crisis; it would probably be welcomed by the bond markets econ.st/1FvgtA1
Posted on: Sat, 29 Nov 2014 07:54:11 +0000
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