Life rarely offers us a straightforward choice between the right and wrong ways of doing things. But Chancellor Rachel Reeves is facing just such a choice this week – and with a grim inevitability, she’s veering in exactly the wrong direction.
She has imposed fiscal rules on the Treasury that prevent excessive borrowing at the very time the war in Iran is driving up the cost of public debt.
It emerged this week that in a bid to circumvent those borrowing restrictions, she has been talking to financiers about using private investment for government national infrastructure schemes. This so-called ‘Public-Private Partnership’ (PPP)
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