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TREASURY AIMS TO BOOST PUBLIC INVESTMENT

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A paper published by the chancellor, Gordon Brown, will explain how the treasury intends to push through higher inv...
A paper published by the chancellor, Gordon Brown, will explain how the treasury intends to push through higher investment by removing built-in biases against investment from the government's system of financial planning and controls.

The Scotsman (p1) reports that the proposals are aimed at using extra resources to overhaul schools, hospitals, housing and transport infrastructure.

The treasury's analysis attacks the legacy left by the previous government: both the quality and quantity of public assets have deteriorated and failed to keep pace with demand. 'We clearly have under-invested pretty dramatically,' a senior aide to the Cchancellor said.

The paper points out that public investment has fallen not just as a share of national income but as a share of government spending.

Physical investment by government has plunged from nearly a tenth of all general spending in the early 1960s to a low of less than three per cent in the early 1980s.
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