Infrastructure Bill [Lords]

Yes, that is right. As I said, this is a significant change in terms of public policy assumptions. To be frank—this is not a criticism of a particular Government—post-war Governments have not always approached infrastructure as well as they might have done. There are all kinds of reasons for that, such as a nervousness about binding the hands of one’s successors or a reluctance to get these big decisions wrong. In democratic politics, there is a pressure towards delivering results in a five-year span—understandably, as we all have to be re-elected—and some of the decisions we are making in this strategy will have a payback over a much longer period than that. When building roads, rather like power stations and significant railway projects, the reward in terms of well-being and economic activity has a reverberating effect for many decades. As a result, Governments sometimes do not take these big but necessary decisions that serve the national interest.