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The UK has tried that. Infrastructure mostly means transport when it comes to government, but can occasionally mean airports or sewers. Anything that involves f
by mike_hearn 3y ago
The UK has tried that. Infrastructure mostly means transport when it comes to government, but can occasionally mean airports or sewers. Anything that involves forcing people off land in order to dig it up, basically.
Crossrail, Thames Tideway and HS2 are all attempts at creating wealth through infrastructure spending. The link between these things and wealth is very weak. There's been no noticeable uplift from Crossrail, HS2 is semi-stalled and Heathrow Runway 3 has been stalled for decades, because the incredible costs can't really be justified even with very optimistic modeling.
The other issue is these are invariably funded by borrowing. Even the current levels of taxation aren't sufficient to pay day to day costs, so capital projects definitely can't be. So it just leads to a vicious cycle in which the infrastructure crumbles today thanks to the borrowing of yesterday consuming all the taxes.