[co-authored with Tom Hunt and Laura White]
My SPERI British Political Economy Brief on the relationship between public infrastructure investment and private sector activity.
This brief examines public spending on infrastructure investment in England and assesses its relationship with private sector business activity on a regional basis. Infrastructure investment forms a key part of the Government’s ‘long term economic plan’ and the Treasury’s recent Productivity Plan identified it as a key component for raising productivity.
The Brief analyses the Government’s National Infrastructure Pipeline and shows that London is set to receive more infrastructure investment than every other English region combined. The findings call into question one of the key arguments used by the Government to underpin their austerity agenda which is that public investment ‘crowds out’ private sector activity.
Click here to access the full document.