Government underwrites £50bn infrastructure spending

[Aurora]

BBC News - 18/07/12

The government says it will underwrite £50bn of investment in infrastructure and exports to try to lift the economy.

The Chancellor, George Osborne, said he was using the coalition's "hard won fiscal credibility" to release private sector funds.

The news follows a report earlier this week from the International Monetary Fund (IMF) which sharply cut its growth forecasts for the UK economy.

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See also:

The Independent - 18/07/12

Osborne pumps £50bn into UK – but it's 'not Plan B'

A second 'jobs and growth' package is expected, including an expansion of housebuilding.

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[emordnilap]

There's a proportionate plan in Ireland - and it includes yet more roads and the dreaded public/private 'initiatives' (ie taxpayers foot the bill when it goes wrong, individuals get rich whether it goes right or wrong).

[RenewableCandy]

Steph Flanders has the perfect put-down, about the proposed projects having to be perfect enough to jump through all the hoops (at this point the men in purple shirts attempt to cart RC off to the Tower) but not quite perfect enough to have got the funding from someone else.

[Aurora]

Cartoon courtesy of The Independent - 19/07/12

[PS_RalphW]

The money is for infratsructure projects including energy. Hidden subsidy for new nuclear build as demanded by EDF ?

[RenewableCandy]

Sounds like it, dunnit?

Call the State Aid Police!