It was in the FT a fortnight ago that Nick Clegg promised that some “massive” new infrastructure projects were in the pipeline. The deputy prime minister’s remarks were interesting politically as he simultaneously endorsed the victory of Francois Hollande, the socialist new president of France.
But does the infrastructure promise amount to much? At the time it was greeted with some scepticism by those including Rachel Reeves, shadow chief secretary to the Treasury, who said:
“We have heard promises about infrastructure investment time and time again, but nothing has happened.”