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Infrastructure report: Why governments should focus on public net worth—not debt

Rethink the fiscal framework (this article featured in Prospect's new policy supplement)

Chancellor Rishi Sunak arrives in Downing Street London, ahead of a meeting of the Government's emergency committee Cobra to discuss coronavirus.

Chancellor Rishi Sunak said in his March Budget speech: “We need to build the infrastructure that will lay the foundations for a new century of prosperity. We need to grab the opportunity to upgrade, to improve, to enhance, to level up.” Accordingly, the new government has promised to increase gross capital spending by £90bn over the parliament, bringing investment levels back to the average in rich economies and to higher levels than 2010-11.

In short, infrastructure is back…

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