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Originally Posted by milo
They classify that as investment though, golden rule and all that. Their argument is they aren't just throwing the money at the civil service to increase wages etc, but rather 'investing' in infrastructure, science and the like. Theres some economic theory somewhere thats meant to say it pays itself off.
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The counterargument is that they're paying a lot more money for less performance and less control. It's not a coincidence that a significant number of the civil servents who drew up the first PFI (and rail privatisation) guidelines and requirements have left to the private sector they were regulating.