On Tue, 21 Oct 2003 12:22:05 +0100, Nick H (UK)
wrote:

So why this government introduces a system shown not to work on the
national rail system is a mystery.

Simple. It is the government equivalent of "off-balance-sheet debt"
in a private company - in this case, you still (effectively) borrow
the money, but it doesn't appear in the PSBR (Public Sector Borrowing
Requirement) figures. Moves capital across onto the revenue account.

Nothing to do with service delivery. Everything to do with cooking
the books^w^w^w maintaing sound public finances (cough, cough)

--
Mike Pellatt
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