George Osborne continues to make the same error he made in previous budgets. He is assuming the British economy will return to robust growth from 2014 onwards and that this will deliver the higher tax revenues needed to achieve his deficit reduction plan. The Office for Budget Responsibility now predicts...

Privatisation is often blamed for the shortcomings of Britain's railways. This is unfair. Genuine privatisation never happened. Nominal ownership may have been transferred to the private sector, but the government remains firmly in control.

Renationalisation would only exacerbate this problem. Politicians and bureaucrats would still make the key decisions on...

Britain's transport sector is cursed by endless intervention by politicians. Investment has tended to be driven by political priorities rather than consumer demand. The emphasis has been on satisfying concentrated special interests rather than the wider populations of taxpayers and transport users. The latest example is High Speed 2 (HS2)...