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ahead of a general election expected next year. here s some of his speech: i am ending this long running saga. i am cancelling the rest of the h52 project. and in its place. applause ..and in its place, we will reinvest every single penny, £36 billion, in hundreds of new transport projects in the north and the midlands, across the country. this means £36 billion of investment in the projects that will make a real difference across our nation. applause ijust want to remind you exactly what hs2 actually is. it s a high speed railway which is what the hs stands for and it was touted as the uk s biggest infrastructure project, aiming to transform public transport between london, the midlands and the north. the first part, between west london and birmingham in blue is already under construction and will be completed. but the length in red, stretching further north from birmingham to manchester, has now been officially scrapped. a separate eastern leg to leeds m ....
for the us government to borrow money for 30 years. the big spike at the end is the concern. that is the cost of borrowing over 30 years. the us government is being forced to pay more as investors worry they will lose out when compared to the returns they can get from those higher interest rates. it s a similar story in the uk where like other governments there will be concern in the corridors of power that it costs more to pay off the national debt and so there is less cash for other things. simon french is chief economist at the uk investment bank panmure gordon and i asked him to explain to me what is going on. your summary was pretty accurate. the higher for longer interest rate environment is spooking investors who have been for at least 15 years of the view that central banks have their back in terms of keeping interest rates low, but also buying government debt, quantitative easing, money printing, which many viewers have been familiar with over the last 15 years ....