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Ricky Myles
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Interesting that France is going down the Public/Private Partnership route to finance this project at a time when an investigation has revealed that the UK has £4 trillion in 'off balance sheet' liabilities i.e. obligations of the state not included in calculating the National Debt. The UK has proved that this method of finance is a recipe for disaster which will leave future generations encumbered by a level of National Debt almost impossible to service let alone pay off. Either the project is affordable by the state or it is not. If the state cannot afford to finance it on its own then that should be the end of the matter. Unfortunately most Western governments seem to be behaving as though there is unlimited wealth in their economies but all they are doing, having just about exhausted the resources of the current generation through taxation and having realised that the market for bonds may be finite is to mortgage future generations yet to be born!
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Jul 18, 2010