Aubrey Allegretti @breeallegretti · 35m Surprise press conferences is not the sign of a party in charge of the conference news agenda.
Andy Street, the Conservative mayor of the West Midlands, also holding one shortly
Aubrey Allegretti @breeallegretti · 6m “You will be turning your back on the opportunity to level up”
Andy Street makes an impassioned plea to save the future of HS2
Wouldn’t be surprised if he does resign. What a disaster
Er, why would Mr Street resign? He's getting HS2, albeit with a scenic tour of Wormwood Sctrubs etc thrown in.
He's needed back at John Lewis.
It did occur to me. He also faces re-election in May. He is a good candidate, and the crisis at Birmingham Council helps him. But he came home by only 8% in 2021, which was a good year for the Tories, so has to be somewhat vulnerable.
I wonder if he might at least be considering the exit ramp.
Aubrey Allegretti @breeallegretti · 35m Surprise press conferences is not the sign of a party in charge of the conference news agenda.
Andy Street, the Conservative mayor of the West Midlands, also holding one shortly
Aubrey Allegretti @breeallegretti · 6m “You will be turning your back on the opportunity to level up”
Andy Street makes an impassioned plea to save the future of HS2
Wouldn’t be surprised if he does resign. What a disaster
Er, why would Mr Street resign? He's getting HS2, albeit with a scenic tour of Wormwood Sctrubs etc thrown in.
He's needed back at John Lewis.
It did occur to me. He also faces re-election in May. He is a good candidate, and the crisis at Birmingham Council helps him. But he came home by only 8% in 2021, which was a good year for the Tories, so has to be somewhat vulnerable.
I wonder if he might at least be considering the exit ramp.
Depends if it is the party or the mayorship he's resigning from.
@montie I walked into Conference earlier with @Nigel_Farage . He got quite the reception. I'm convinced party members would choose him as leader if they could.
Think it's quite possible he will try to become a Tory MP soon.
Too many people in the Tory party have too much of an incentive to block him, precisely because quite a few members would choose him as leader if they could.
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
@montie I walked into Conference earlier with @Nigel_Farage . He got quite the reception. I'm convinced party members would choose him as leader if they could.
Think it's quite possible he will try to become a Tory MP soon.
He may try but CCHQ would block him getting on the approved Conservative candidates list, certainly under the current leadership
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
It is chaos. Just utter indecisive chaos.
Sunak's USP was stable and adult governance after a period of chaos.
Now this.
Just beggars belief frankly.
The country would be better with Truss.
Or Johnson.
Or Starmer.
Inflation is falling, the economy is growing, Sunak is delivering in some respects
"Your prices are still going up, and your mortgage will be going up when you renew it layter this year. Only your prices aren't going up qutie as fast as we made them do last year."
Interest rates and hence mortgage rates too are stabilising
" ... your mortgage will be going UP when you RENEW it later this year ..."
And would be going up even more if big spending and large tax cuts expanded the deficit and inflation further
Remind me again: which Prime Minister was the last one to promise huge tax cuts without cutting spending?
One Liz Truss, who Rishi replaced as PM, so Rishi's record has to be compared to what Liz left and improvements since
Aubrey Allegretti @breeallegretti · 35m Surprise press conferences is not the sign of a party in charge of the conference news agenda.
Andy Street, the Conservative mayor of the West Midlands, also holding one shortly
Aubrey Allegretti @breeallegretti · 6m “You will be turning your back on the opportunity to level up”
Andy Street makes an impassioned plea to save the future of HS2
Wouldn’t be surprised if he does resign. What a disaster
Er, why would Mr Street resign? He's getting HS2, albeit with a scenic tour of Wormwood Sctrubs etc thrown in.
He's needed back at John Lewis.
It did occur to me. He also faces re-election in May. He is a good candidate, and the crisis at Birmingham Council helps him. But he came home by only 8% in 2021, which was a good year for the Tories, so has to be somewhat vulnerable.
I wonder if he might at least be considering the exit ramp.
Depends if it is the party or the mayorship he's resigning from.
I don't think he's likely to leave the Conservative Party. He has personal reasons to stay, and also backed Truss for leader so is hardly a wet (albeit he may have backed her partly because she was practically certain to win).
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
The Tories seem to have gone full on loon. Is there another Western European government going to the extremes so quickly? It would be amusing, but it’s our country they’re in charge of. What madness are they going to embrace next? These are dangerous times.
Regardless of whether cancelling the Manchester leg of HS2 is a good policy or a bad one, it can hardly be described as 'loony'. The project polls poorly; its benefits are uncertain, and its costs spiralling out of control. Its cancellation is surely a rather small c conservative policy.
Aubrey Allegretti @breeallegretti · 35m Surprise press conferences is not the sign of a party in charge of the conference news agenda.
Andy Street, the Conservative mayor of the West Midlands, also holding one shortly
Aubrey Allegretti @breeallegretti · 6m “You will be turning your back on the opportunity to level up”
Andy Street makes an impassioned plea to save the future of HS2
Wouldn’t be surprised if he does resign. What a disaster
Er, why would Mr Street resign? He's getting HS2, albeit with a scenic tour of Wormwood Sctrubs etc thrown in.
He's needed back at John Lewis.
It did occur to me. He also faces re-election in May. He is a good candidate, and the crisis at Birmingham Council helps him. But he came home by only 8% in 2021, which was a good year for the Tories, so has to be somewhat vulnerable.
I wonder if he might at least be considering the exit ramp.
Depends if it is the party or the mayorship he's resigning from.
I don't think he's likely to leave the Conservative Party. He has personal reasons to stay, and also backed Truss for leader so is hardly a wet (albeit he may have backed her partly because she was practically certain to win).
I was surprised to find out he is best buddies with Michael Fabricant (they own a home together, but state they aren't a couple)....I always thought Andy Street comes across as quite sensible, opposites attract I guess.
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
Whilst I have sympathy with your point that it is hardly like-for-like, road maintenance/resurfacing would certainly be part of the capital programme in accounting terms.
Whenever you build something new, you need to remember that it will need maintaining in the future. The bathtub curve means that most things will run with minimal expenditure for a long time, but after a while maintenance will start *really* costing.
HS1 is reaching this point soon, where large chunks of it will need renewing soon. Do they close the line for a couple of months, or try to keep it running, with delays, for a couple of years?
It is why China, which is built lots of stuff in a decade or two, might face issues in the next decade.
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
Didn't Sunak stand up at the hustings last year and say something along the lines of he'll divert money heading to poor northern areas to more prosperous Southern ones?
If so, Labour could do with getting hold of that video and playing on repeat for the next 12 months
It wasn't during the leadership, it was some time ago - I forget the event but I think it was outdoors?
The Tories seem to have gone full on loon. Is there another Western European government going to the extremes so quickly? It would be amusing, but it’s our country they’re in charge of. What madness are they going to embrace next? These are dangerous times.
Regardless of whether cancelling the Manchester leg of HS2 is a good policy or a bad one, it can hardly be described as 'loony'. The project polls poorly; its benefits are uncertain, and its costs spiralling out of control. Its cancellation is surely a rather small c conservative policy.
Earlier this morning you were saying :"what about the GCR?".
Which is a sign you are utterly clueless about such things.
The Tories seem to have gone full on loon. Is there another Western European government going to the extremes so quickly? It would be amusing, but it’s our country they’re in charge of. What madness are they going to embrace next? These are dangerous times.
Regardless of whether cancelling the Manchester leg of HS2 is a good policy or a bad one, it can hardly be described as 'loony'. The project polls poorly; its benefits are uncertain, and its costs spiralling out of control. Its cancellation is surely a rather small c conservative policy.
I think SO is being a bit hyperbolic. Putting aside the HS2 decision, most of Sunak / Hunt decision / policies seem very much what you would expect from treasury orthodoxy, nothing radical at all (unlike the Truss overturn the apple cart within 5 mins)...a few pence more for minimum wage here, efficiency saving in civil service there, no tax cuts until the GE, claim to get tougher on benefits claimers not seeking work.
Its stuff we have heard forever, most of which doesn't really change anything.
The biggest criticism of Sunak (and Hunt) are they are just rather rubbish, its managed decline stuff. No real original policies, bit of red meat to the base from time to time e.g. shoving EV cars down the road a bit, but mostly same old same old, high tax, low productivity, no real idea what to do about it.
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
When the government talk about the billions they are giving the railways for each five year Control Period, maintenance is a very large part of that.
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
When the government talk about the billions they are giving the railways for each five year Control Period, maintenance is a very large part of that.
Of course it should be, but that's totally unrelated to what I said.
Yes there needs to be maintenance and that absolutely has to be budgeted for, but that is current expenditure, its not capex investment.
To fund current expenditure from capex funds is no way to operate.
I do sort of question why the BBC spent 2 years of resources on a bloke from the US, whose former business is really big in the US, not here. He is a perverted bloke (dodgy behaviour has already led to court cases) who like sex parties, hired models / sex workers, some of which now feel that they were exploited. Shrugs....its not exactly unheard of, in fact, many Instagram models make their living going to the Middle East for far worse stuff.
Even in the write up the lawyers are saying its rather tough one, you "might" have evidence of coercion, its "could be sex trafficking"....
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
When the government talk about the billions they are giving the railways for each five year Control Period, maintenance is a very large part of that.
Of course it should be, but that's totally unrelated to what I said.
Yes there needs to be maintenance and that absolutely has to be budgeted for, but that is current expenditure, its not capex investment.
To fund current expenditure from capex funds is no way to operate.
Surely it becomes rather fuzzy? After all, the roads network has zero defined income (aside from toll roads/bridges). If something is not earning, as the roads network doesn't, then it is all capital expenditure?
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
When the government talk about the billions they are giving the railways for each five year Control Period, maintenance is a very large part of that.
Of course it should be, but that's totally unrelated to what I said.
Yes there needs to be maintenance and that absolutely has to be budgeted for, but that is current expenditure, its not capex investment.
To fund current expenditure from capex funds is no way to operate.
I think there are two separate point here. One is how accounting practice should reflect road maintenance costs. The other is how it does. On the first, I have some sympathy with you. But on the second, Josiah is right.
“It is going to be difficult for my Republican friends to keep calling President Biden 'feeble' while he continues to take Speaker McCarthy's lunch money in every negotiation.”
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
Well we don't know if Rishi Rich is jettisoning HS2. It might just have been something Pesto dreamed up.
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
It seems to me that the decision has been made and it will be announced on Wed in Rishi's speech (presumably some of the money will be spent elsewhere)
"💥West Mids mayor @andy4wm impromptu doorstep where he publicly pleads with the PM not to scrap HS2 & says he’s putting together private sec backer to keep project on track.
Asked repeatedly if he’d resign if scrapped and he refuses to rule it out"
Good for him. It is an utterly appalling decision.
The decision has been taken years ago to build this. Get the feck on and finish the job.
There are arguments either way, I expect most people in the north would not complain if more funds saved from cancellation were put into local bus stations and rail routes and mending potholes
This is not possible.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
On the railways, there are three main categories of investment: *) Maintenance: keeping what you have operating. *) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer. *) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
I'd dispute maintenance as being classed as investment.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
When the government talk about the billions they are giving the railways for each five year Control Period, maintenance is a very large part of that.
Of course it should be, but that's totally unrelated to what I said.
Yes there needs to be maintenance and that absolutely has to be budgeted for, but that is current expenditure, its not capex investment.
To fund current expenditure from capex funds is no way to operate.
Surely it becomes rather fuzzy? After all, the roads network has zero defined income (aside from toll roads/bridges). If something is not earning, as the roads network doesn't, then it is all capital expenditure?
Not really, if you want to take it from the income perspective then roads have income from fuel duty, and road tax, and electricity taxes now on EVs and VAT and ...
But anyway, capex is investment on building things, renewing their life etc.
Day to day repairs is operational expenditure, opex, not capex.
Enjoy your break @MikeSmithson, and come back refreshed. I look forward to your holiday posts showing you in hotels around the world, with a G&T on the table.
I do sort of question why the BBC spent 2 years of resources on a bloke from the US, whose former business is really big in the US, not here. He is a perverted bloke (dodgy behaviour has already led to court cases) who like sex parties, hired models / sex workers, some of which now feel that they were exploited. Shrugs....its not exactly unheard of, in fact, many Instagram models make their living going to the Middle East for far worse stuff.
Even in the write up the lawyers are saying its rather tough one, you "might" have evidence of coercion, its "could be sex trafficking"....
Agreed, it’s old news this particular story. They would have been better off covering Yachting and the exploitation of young women for sex in the Gulf, Med and elsewhere. It’s a mass organised pimping network and pretty grim.
December 2009 Gordon Brown announces plans for a north-south high-speed rail network, promising to invest £20bn in railway infrastructure to address capacity constraints on the north-south rail links in England.
May 2010 The new coalition government commits to developing a high-speed rail network as part of a programme to create a low carbon economy.
January 2012 The then transport secretary, Justine Greening, gives the green light to HS2, heralding “a new chapter in Britain’s transport history”. It is now a Y-shaped network from London to Birmingham, with spurs to Manchester and Leeds. Costs have risen to £32.7bn, partly because expensive tunnels have been added through the Chilterns, where many Conservative opponents have constituencies...
I do sort of question why the BBC spent 2 years of resources on a bloke from the US, whose former business is really big in the US, not here. He is a perverted bloke (dodgy behaviour has already led to court cases) who like sex parties, hired models / sex workers, some of which now feel that they were exploited. Shrugs....its not exactly unheard of, in fact, many Instagram models make their living going to the Middle East for far worse stuff.
Even in the write up the lawyers are saying its rather tough one, you "might" have evidence of coercion, its "could be sex trafficking"....
Agreed, it’s old news this particular story. They would have been better off covering Yachting and the exploitation of young women for sex in the Gulf, Med and elsewhere. It’s a mass organised pimping network and pretty grim.
If even a tiny proportion of what you hear is true about that scene, it is absolutely scandalous and as you say really grim. And its absolutely illegal where it is happening.
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
Well we don't know if Rishi Rich is jettisoning HS2. It might just have been something Pesto dreamed up.
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
A major investment on trains from London to Manchester and back, not a major investment in Manchester itself beyond rail tracks and trains into it
Wrong. Because HS2 itself improves the local rail network - that's why Northern Powerhouse Rail is a dead duck if HS2 doesn't get that far, as some of the HS2 improvements are needed.
I do sort of question why the BBC spent 2 years of resources on a bloke from the US, whose former business is really big in the US, not here. He is a perverted bloke (dodgy behaviour has already led to court cases) who like sex parties, hired models / sex workers, some of which now feel that they were exploited. Shrugs....its not exactly unheard of, in fact, many Instagram models make their living going to the Middle East for far worse stuff.
Even in the write up the lawyers are saying its rather tough one, you "might" have evidence of coercion, its "could be sex trafficking"....
David Bradberry, then 23, said he was introduced in 2010 to Mr Jacobson by an agent who described him as the gatekeeper to "the owners" of A&F, but said there was no mention of sex. At their meeting, he said Mr Jacobson suggested Bruce Weber - then A&F's official photographer - should take his picture.
Then, Mr Bradberry said, "Jim made it clear to me that unless I let him perform oral sex on me, that I would not be meeting with Abercrombie & Fitch or Mike Jeffries."
or
Alex, a straight man then in his 20s, said he was auditioned by Mr Jacobson, who praised his dancing but demanded he "finish the job" by performing oral sex on him. "I had debt, I wanted to support my family," said Alex. "I performed the job and I was, like, disgusted."
Eventually, he said he went to hide in a back room where he fell asleep. Alex said he woke up with a condom inside him and feared that the champagne he had been given earlier had been spiked.
"When I put things together, I believe there is a very good possibility I was drugged and raped. I'll probably never, never know for sure the answer of what happened," he said.
Seems as outrageous as MeToo things that came up with Weinstein. Doesn't sound like consensual behaviour.
Mike as a long time lurker and occasional contributor I want to add to what I’m sure will be a flood of best wishes.
This site is anarchic fun, sure, but you also find a quality of insight both above and below the line, combined with a melting pot of political views, that is increasingly rare on the internet in my view.
You’ve created something really quite unusual and valuable, thank you.
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
Well we don't know if Rishi Rich is jettisoning HS2. It might just have been something Pesto dreamed up.
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
A major investment on trains from London to Manchester and back, not a major investment in Manchester itself beyond rail tracks and trains into it
Wrong. Because HS2 itself improves the local rail network - that's why Northern Powerhouse Rail is a dead duck if HS2 doesn't get that far, as some of the HS2 improvements are needed.
That's only been pointed out about 200 times. Unreasonable to expect HYUFD to have noticed.
If you read the article carefully, it is then revealed they attended multiple events and it seems many where already engaged in commercial sex work when they were hired.
Hence why the lawyers they quote are rather "if and maybe" about things.
As I said previously, its well known his guy is very grubby individual, there have been lawsuits about his and his partners behaviour in the past. Just seems a bit of a strange target for the BBC to be focused on for 2 years.
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
Well we don't know if Rishi Rich is jettisoning HS2. It might just have been something Pesto dreamed up.
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
A major investment on trains from London to Manchester and back, not a major investment in Manchester itself beyond rail tracks and trains into it
Wrong. Because HS2 itself improves the local rail network - that's why Northern Powerhouse Rail is a dead duck if HS2 doesn't get that far, as some of the HS2 improvements are needed.
Only the rail network between London and Manchester and links to some other northern cities from Manchester, less so rail and bus links between northern towns. Especially those towns that make up the redwall seats the Tories won in 2019
More HS2 confusion as Downing Street is forced to deny that Rishi Sunak has decided to axe the Birmingham to Manchester leg of the project.
This pathetic nonsense is no way to run a country.
If you say you're going to do something, then bloody well do it. Stop dilly dallying about for decades.
And if you've made a decision, spit it out.
Well we don't know if Rishi Rich is jettisoning HS2. It might just have been something Pesto dreamed up.
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
A major investment on trains from London to Manchester and back, not a major investment in Manchester itself beyond rail tracks and trains into it
Wrong. Because HS2 itself improves the local rail network - that's why Northern Powerhouse Rail is a dead duck if HS2 doesn't get that far, as some of the HS2 improvements are needed.
Only the rail network between London and Manchester and links to some other northern cities from Manchester, less so rail and bus links between northern towns
And why isn't HS2 getting to those other towns, like we were promised?
'Thérèse Coffey, the environment secretary, announced that she was axing an EU rule banning bendy bananas.
In her speech she declared:
"My officials are cutting red tape and introducing smarter regulation.
Frankly, bent or straight, it is not for government to decide the shape of bananas you want to eat – I just want to assure you they are safe to eat.
So we will be dropping absurd regulations, including the one on bendy bananas.
Contrast all this to Labour.
They are sneakily signing up to keeping in step with whatever Europe decides."'
Just like banning meat tax, then.
The fifteen minute cities ban was cast in the same mould. Andrew Bowie was explaining that the Government are trying to stop councils dictating where and when you go to the shops. Evan Davis on PM suggested councils are not dictating when and where you must go to the shops. Bowie responded by suggesting if councils ever decided to dictate your shopping preferences Rishi Sunak would stop them.
This must be some wizard wheeze from Lynton Crosby. It might be a work of genius, but it is nonetheless very confusing.
On what basis? It's rather cringe that she vigorously defends her record (in the face of all evidence) and is vocal in support of corporation tax cuts in particular. But what has she actually done that is a disciplinary matter under Conservative Party rules? And what about removing her would reduce her capacity to embarrass, even if he could?
Like a lot of ex-leaders, her capacity to embarrass will reduce as she slides further into obscurity and irrelevance. But, at the moment, all he can realistically do is grin and bear it.
Hunt only spoke for 14 mins today....rather indicative that has no ideas.
One more minute and he could have been a 15-minute Chancellor.
Well he is definitely part of Klaus Schwab's WEF mob....which I am led to believe are the real puppet masters behind 15 min cities etc...checks Russell Brand Rumble videos for the "Trews".
Not policy-wonk but Army. Get a grip, gripped as by a new-broom commanding officer, etc.
That's surely a different usage. It's one thing to 'get a grip on the costs', but another to 'grip the costs'.
It's also (separately) rail industry speak for planning spending on projects like this - where GRIP stands for Governance for Railway Investment Projects. (But I don't think Andy Street was using it in that sense.)
Hunt only spoke for 14 mins today....rather indicative that has no ideas.
I, for one, think Conference should have been treated to a three hour Jeremy Hunt oration as a bare minimum.
I feel certain that a lot of delegates will be asking for their money back, as his soaring rhetoric was basically what most people were surely paying the registration fee for.
'Thérèse Coffey, the environment secretary, announced that she was axing an EU rule banning bendy bananas.
In her speech she declared:
"My officials are cutting red tape and introducing smarter regulation.
Frankly, bent or straight, it is not for government to decide the shape of bananas you want to eat – I just want to assure you they are safe to eat.
So we will be dropping absurd regulations, including the one on bendy bananas.
Contrast all this to Labour.
They are sneakily signing up to keeping in step with whatever Europe decides."'
Just like banning meat tax, then.
The fifteen minute cities ban was cast in the same mould. Andrew Bowie was explaining that the Government are trying to stop councils dictating where and when you go to the shops. Evan Davis on PM suggested councils are not dictating when and where you must go to the shops. Bowie responded by suggesting if councils ever decided to dictate your shopping preferences Rishi Sunak would stop them.
This must be some wizard wheeze from Lynton Crosby. It might be a work of genius, but it is nonetheless very confusing.
LBC @LBC · 23m ‘As a serious G7 country, we need to do the difficult stuff well.’
Conservative Mayor of the West Midlands @andy4wm makes his case for HS2 as he details his offer to keep the project in the north, telling @AndrewMarr9 its scrappage would 'damage’ the UK’s reputation.
I keep contrasting the Cameron era of Tory government - how on earth have we got to this UKIP version of the party. Presumably the answer is Brexit
I think it's just because they know they're losing power next year so they're retreating to their base as party's at the end of their time in government and while they're in Opposition tend to do.
Whoever becomes leader and LOTO will have to move back to the center pretty sharpish if they want to have a chance of winning in 2029.
I keep contrasting the Cameron era of Tory government - how on earth have we got to this UKIP version of the party. Presumably the answer is Brexit
The odd thing is, I don't see Sunak as being particularly of the Brexit side of the party. But he's in thrall to it.
Bring back Cameron. Or, God forbid, May or Brown... Brexit is a disease, a cancer, that has infected this country.
There's a theory (which of course could be complete bollocks) that Sunak supported Brexit to stop anyone thinking he was anti-patriotic. But it is odd that he's seen as almost a "Leaver in name only".
I keep contrasting the Cameron era of Tory government - how on earth have we got to this UKIP version of the party. Presumably the answer is Brexit
The odd thing is, I don't see Sunak as being particularly of the Brexit side of the party. But he's in thrall to it.
Bring back Cameron. Or, God forbid, May or Brown... Brexit is a disease, a cancer, that has infected this country.
There's a theory (which of course could be complete bollocks) that Sunak supported Brexit to stop anyone thinking he was anti-patriotic. But it is odd that he's seen as almost a "Leaver in name only".
@montie I walked into Conference earlier with @Nigel_Farage . He got quite the reception. I'm convinced party members would choose him as leader if they could.
Think it's quite possible he will try to become a Tory MP soon.
Someone was asking on here the other day, might have been DavidL, about what happened to Cameron’s lovely green, centrist, hug-a-hoodie non-nasty party Tories?
Well, Brexit happened. The loons metastasized. The chimera of a pain free Brexit, the expelling of sane voices counselling caution, it’s led to the shambles we’re witnessing now. Levelling up is dead. HS2 is dead. Taxes are high, inflation is high. Brexit is costing us billions. We are poorer, we have fewer rights, we have a Telegraph columnist(!) bemoaning how useless their British passport is - fortunately for the columnist in question they managed to finagle themselves an EU passport. I should be so lucky.
And now the lunatics want Farage to be their leader.
I keep contrasting the Cameron era of Tory government - how on earth have we got to this UKIP version of the party. Presumably the answer is Brexit
The odd thing is, I don't see Sunak as being particularly of the Brexit side of the party. But he's in thrall to it.
Bring back Cameron. Or, God forbid, May or Brown... Brexit is a disease, a cancer, that has infected this country.
There's a theory (which of course could be complete bollocks) that Sunak supported Brexit to stop anyone thinking he was anti-patriotic. But it is odd that he's seen as almost a "Leaver in name only".
It's because he is seen* as sober, sensible, bit of a spreadsheet guy - so why on earth can we believe is he a true believer in Brexit?
* until he lost the plot a week ago and started throwing out nonsense policies for the laughs.
@montie I walked into Conference earlier with @Nigel_Farage . He got quite the reception. I'm convinced party members would choose him as leader if they could.
Think it's quite possible he will try to become a Tory MP soon.
Someone was asking on here the other day, might have been DavidL, about what happened to Cameron’s lovely green, centrist, hug-a-hoodie non-nasty party Tories?
Well, Brexit happened. The loons metastasized. The chimera of a pain free Brexit, the expelling of sane voices counselling caution, it’s led to the shambles we’re witnessing now. Levelling up is dead. HS2 is dead. Taxes are high, inflation is high. Brexit is costing us billions. We are poorer, we have fewer rights, we have a Telegraph columnist(!) bemoaning how useless their British passport is - fortunately for the columnist in question they managed to finagle themselves an EU passport. I should be so lucky.
And now the lunatics want Farage to be their leader.
Comments
I wonder if he might at least be considering the exit ramp.
Mending potholes isn't investment, its maintenance. Its day to day expenditure. It needs to be happening anyway out of current expenditure. Same as day to day maintenance of railway lines.
HS2 is investment, its capex.
You can't fund current expenditure out of capex funds. Or its completely irresponsible to do so anyway.
The road equivalent to a new railway line isn't maintaining existing lines, its investing in new roads. New motorways would be the equivalent of a new rail track.
Best wishes Mike, and thanks for the site. Hope you're back soon.
And for our new overlord: the first time that inferior company tried to make a processor - and failed. They rely on a good old British company now...
https://www.youtube.com/watch?v=v7dNorB47Qw
*) Maintenance: keeping what you have operating.
*) Renewals: renewing the stuff that is life-expired; the stuff too expensive to maintain any longer.
*) Enhancements. adding new capabilities/functionalities to the system. Crossrail or HS2, or even the Werrington dive-under
The same is probably true for roads. Maintenance is fixing potholes or an emergency sign. Renewals is putting up a replacement for a life-expired sign, or resurfacing a road. Enhancements is a new junction, or a completely new road.
I find it helps to look at such stuff in this manner. Is it just keeping what we have going, or is it adding new functionality?
Whenever you build something new, you need to remember that it will need maintaining in the future. The bathtub curve means that most things will run with minimal expenditure for a long time, but after a while maintenance will start *really* costing.
HS1 is reaching this point soon, where large chunks of it will need renewing soon. Do they close the line for a couple of months, or try to keep it running, with delays, for a couple of years?
It is why China, which is built lots of stuff in a decade or two, might face issues in the next decade.
Investment is what you can depreciate. Pay for it this year and it will last x years and can be depreciated over that time.
Maintenance is an ongoing cost. Pay for it this year, in the full knowledge you'll pay for it again next year. This can't or shouldn't come from your capex expenditure.
Renewals are fair enough to be classed as investment, replace an end of life system with a replacement to last 50 years sure is investment.
Which is a sign you are utterly clueless about such things.
https://x.com/andy4wm/status/1708882135715664345
Its stuff we have heard forever, most of which doesn't really change anything.
The biggest criticism of Sunak (and Hunt) are they are just rather rubbish, its managed decline stuff. No real original policies, bit of red meat to the base from time to time e.g. shoving EV cars down the road a bit, but mostly same old same old, high tax, low productivity, no real idea what to do about it.
It might be worth worrying if you are in Pozzuoli. There were about 80 quakes last Wednesday, it seems.
Yes there needs to be maintenance and that absolutely has to be budgeted for, but that is current expenditure, its not capex investment.
To fund current expenditure from capex funds is no way to operate.
Who can forget the story from Germany a decade ago?
"Prostitute-filled sex party was reward for German insurance salesmen"
https://www.theguardian.com/world/2011/may/19/sex-party-reward-german-salesmen
Attitudes need to change.
https://twitter.com/BillyM2k/status/1708669120055837016
Even in the write up the lawyers are saying its rather tough one, you "might" have evidence of coercion, its "could be sex trafficking"....
Not even Rishi Rich would be dull enough to cancel a major investment in Manchester, in Manchester.
“It is going to be difficult for my Republican friends to keep calling President Biden 'feeble' while he continues to take Speaker McCarthy's lunch money in every negotiation.”
— Rep. Matt Gaetz (R-FL) criticizes Speaker McCarthy’s (R-CA) negotiation abilities on Ukraine funding
https://twitter.com/therecount/status/1708881437707981288
https://www.politico.com/news/magazine/2023/10/02/the-coming-supreme-court-power-grab-00119228
But anyway, capex is investment on building things, renewing their life etc.
Day to day repairs is operational expenditure, opex, not capex.
HS2: a long and winding timeline of the troubled high-speed rail project
https://www.theguardian.com/uk-news/2023/oct/02/hs2-timeline-rail-high-speed-rail-project
...Here is long and winding timeline of this controversial project.
December 2009 Gordon Brown announces plans for a north-south high-speed rail network, promising to invest £20bn in railway infrastructure to address capacity constraints on the north-south rail links in England.
May 2010 The new coalition government commits to developing a high-speed rail network as part of a programme to create a low carbon economy.
January 2012 The then transport secretary, Justine Greening, gives the green light to HS2, heralding “a new chapter in Britain’s transport history”. It is now a Y-shaped network from London to Birmingham, with spurs to Manchester and Leeds. Costs have risen to £32.7bn, partly because expensive tunnels have been added through the Chilterns, where many Conservative opponents have constituencies...
Then, Mr Bradberry said, "Jim made it clear to me that unless I let him perform oral sex on me, that I would not be meeting with Abercrombie & Fitch or Mike Jeffries."
or
Alex, a straight man then in his 20s, said he was auditioned by Mr Jacobson, who praised his dancing but demanded he "finish the job" by performing oral sex on him. "I had debt, I wanted to support my family," said Alex. "I performed the job and I was, like, disgusted."
Eventually, he said he went to hide in a back room where he fell asleep. Alex said he woke up with a condom inside him and feared that the champagne he had been given earlier had been spiked.
"When I put things together, I believe there is a very good possibility I was drugged and raped. I'll probably never, never know for sure the answer of what happened," he said.
Seems as outrageous as MeToo things that came up with Weinstein. Doesn't sound like consensual behaviour.
This site is anarchic fun, sure, but you also find a quality of insight both above and below the line, combined with a melting pot of political views, that is increasingly rare on the internet in my view.
You’ve created something really quite unusual and valuable, thank you.
Everytime Truss gets shown Sunak must weep .
Unreasonable to expect HYUFD to have noticed.
If you read the article carefully, it is then revealed they attended multiple events and it seems many where already engaged in commercial sex work when they were hired.
Hence why the lawyers they quote are rather "if and maybe" about things.
As I said previously, its well known his guy is very grubby individual, there have been lawsuits about his and his partners behaviour in the past. Just seems a bit of a strange target for the BBC to be focused on for 2 years.
SNP gain Tamworth and Tories gain Rutherglen nailed on.
https://www.youtube.com/watch?v=4B9hK7mPw_E&t=27s
https://x.com/ESPNcricinfo/status/1708851832364159037?s=20
How do you prepare for an ODI WC if you never play the format?
This must be some wizard wheeze from Lynton Crosby. It might be a work of genius, but it is nonetheless very confusing.
And that the No. 41 bus between Manchester and Bradford will now run twice a day rather than once a day.
Like a lot of ex-leaders, her capacity to embarrass will reduce as she slides further into obscurity and irrelevance. But, at the moment, all he can realistically do is grin and bear it.
I feel certain that a lot of delegates will be asking for their money back, as his soaring rhetoric was basically what most people were surely paying the registration fee for.
This HS2 story shows how utterly incompetent (in so many ways) this current Government is...
@LBC
·
23m
‘As a serious G7 country, we need to do the difficult stuff well.’
Conservative Mayor of the West Midlands
@andy4wm
makes his case for HS2 as he details his offer to keep the project in the north, telling
@AndrewMarr9
its scrappage would 'damage’ the UK’s reputation.
https://twitter.com/LBC
Late, very late in the day.
Bring back Cameron. Or, God forbid, May or Brown... Brexit is a disease, a cancer, that has infected this country.
Whoever becomes leader and LOTO will have to move back to the center pretty sharpish if they want to have a chance of winning in 2029.
1) Trump charged on a national security case
2) The Privileges Committee recommending Boris Johnson be suspended for 90 days
3) Boris Johnson resigning as an MP because of 2)
4) Sunak denying Nadine Dorries and others peerages
5) Nigel Adams resigning as an MP with immediate effect because of 4)
6) Nadine Dorries resigning as an MP with immediate effect* because of 4)
7) Nicole Sturgeon arrested
*With caused epistemological problems which the English language is yet to recover from
Any connection in your handle to?
Rob Powell
@robpowellnews
Eeek
https://twitter.com/robpowellnews/status/1708883662375211368
https://www.theguardian.com/politics/2014/oct/24/david-cameron-refuses-pay-eu-bill-december-deadline
David Cameron refuses to pay £1.7bn EU bill by 1 December deadline
Prime minister launches scathing attack on ‘appalling’ behaviour of European Commission, saying its demands are unacceptable
"Walked away from the single free market which they very much helped to create and then failed to build a new railway."
Well, Brexit happened. The loons metastasized. The chimera of a pain free Brexit, the expelling of sane voices counselling caution, it’s led to the shambles we’re witnessing now. Levelling up is dead. HS2 is dead. Taxes are high, inflation is high. Brexit is costing us billions. We are poorer, we have fewer rights, we have a Telegraph columnist(!) bemoaning how useless their British passport is - fortunately for the columnist in question they managed to finagle themselves an EU passport. I should be so lucky.
And now the lunatics want Farage to be their leader.
* until he lost the plot a week ago and started throwing out nonsense policies for the laughs.
Donald Trump: “I don't think the people of this country are going to stand for it...This is a disgrace. And you ought to go after this attorney general.”
https://twitter.com/AccountableGOP/status/1708850019623670259