"Tom Barry" wrote:

Chris Read wrote:

The days of living beyond our means, both in London and nationally, are
drawing to a close. Although you wouldn't think that from the promises
being made by our politicians - of all parties.

Chris

I have two problems with this:

a) the almost lascivious tone adopted by people who use it - hides the
issue, which is a drop in tax revenue caused by recession, not
overspending

Except that we were running a budget deficit *before* the recession hit tax
revenues. That is the unfortunate truth, whether stated in lascivious tones
or otherwise.

b) the lack of any appreciation that public subsidy and investment (say,
in public transport) is wealth *creating*, if done right. See East London
Line, Crossrail etc.

I don't dispute that infrastructure improvements can be wealth creating, and
there is a good case to push ahead with these during recession, because you
can normally get the jobs done for better prices, in addition to protecting
employment. I don't accept, however, that *all* public spending is
'investment'.

I notice, however, that Wrightbus of Northern Ireland are in line to build
another 84 double deckers in the bendy replacement programme for this
year's two routes alone, so the days of living beyond our means aren't
over for everyone, are they?

Quite apart from the £11.4m on five Borimasters no one can afford to crew.

I don't dispute any of that, either. Bendys appeal to me as a bus
passenger - less so as a pedestrian, frustrated by Bendy junction-blocking.
They should have been allowed to reach the end of their useful lives,
whereupon various options for replacement could have been considered.
Bendy-phobia was not a 100% right wing phenomenon, of course.

Chris