My Long Finance article with Con Keating: The chancellor could have unleashed billions in investment for large-scale urban extensions led by public corporations financed by private capital and funded by market agents by following internationally recognized accounting standards. Instead the government will continue with its centralized model of infrastructure investment via gilt financing which will not only curtail growth but will also place greater pressure on the public finances -alongside some clever financial engineering for good measure.
Queen Mary Reservoir under construction financed by debt issued by the Metropolitan Water Board. Completed in 1925.