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Public sector infrastructure projects have vast cost overruns.
O'Neill's appointment as commercial secretary to the Treasury, with special responsibility for city devolution and public sector infrastructure projects, is intriguing.
The £3bn spending to be brought forward for public sector infrastructure projects, as part of Darling's £20bn package of measures aimed at kick-starting the economy, is welcome.
"Even in the middle of a financial crisis, if the private sector investment essentially dries up, the thing that keeps the economy going is public sector infrastructure projects," he said.
He repeated his intention to replace "private finance initiative" (PFI) projects - the scheme for involving private-sector contractors in public sector infrastructure projects first introduced under John Major - with a new approach that would enable taxpayers to benefit from the profits of such ventures.
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The private sector has a lot of capital that would be perfect to invest in an upgraded utility or public sector infrastructure project with reliable returns.
Another infrastructure E.T.F., the First Trust ISE Global Engineering & Construction Index fund, meanwhile, includes companies engaged in large public- and private-sector infrastructure projects.
"Before the president asks taxpayers to pick up the tab for another round of 'stimulus' spending, he might consider getting out of the way of the private-sector infrastructure projects he continues to block," Mr. Buck said in an e-mail.
It may be years before investors are again willing to back big private-sector infrastructure projects.Environmental concerns will also hinder passenger growth.
I fought to bring about the largest private-sector infrastructure project in North American history.
"I fought to bring about the largest private-sector infrastructure project in North American history," she said.
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