Let me be clear although I do not think that Clegg' speech this morning is the last word on how to get the economy to grow it does contain some very important passages on infrastructure investment not only in road and rail but in IT and the 'green' industries. I also wholeheartedly welcome his dishing of the 'euro sceptic' nonsense which would significantly damage our prospects in the near and long term.
His clear and unequivocal support for the Switch Island project in Sefton explaining the direct economic investment makes you wonder how Labour could have spun out 13yrs without making a decision! Anyway here is the passage:
...........................You have to be ruthless, focusing on the investments that transform growth potential: transport, energy, digital communications. Roads and rail so manufacturers can transfer goods. Better broadband so small, high-tech companies can flourish. Renewable energy so low-carbon industry can too.
If you modernise this kind of infrastructure you stimulate activity in the shorter term and you build systems high growth industries can use for years to come. Transport schemes announced in the Spending Review, for example, will deliver major boosts to growth. Like the Switch Island link road in Merseyside, where £20m of Government investment will generate 35 times that in economic benefits...............