The Devolution agenda: Outsource the cuts. Outsource the liability for the much needed infrastructure spend. Overrule councils if they dont do as they’re told. Otherwise give them full freedom. Freedom to get into debt. To sign LOBOs and PFI deals. And interest rate hedging products. Embedded derivatives. Swaps. Bermudans. Callable. Floating Rate Notes. Inverse Floaters. […]
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