Member

In 2014 it was said that £660 million could be saved. Now the Government say in their press release that we could save £1 billion. We have heard it all before. It was not right 10 years ago, and it is certainly not right now. The increased systemic risks by fragmenting investment management in the City of London, with the illusion that it can invest in the big infrastructure, is just crazy. It is not going to happen until the infrastructure pays a coupon. The Government would be much better employed in trying to turn investment into having a return so that a flood defence pays some interest or whatever.