Jock, the money isn't there because we have other priorities. We would rather spend it on schools, hospitals, wars and so forth.

Yes, we should give a higher priority to rail links, offshore wind farms and the like. Creating the money" to do it isn't a free pass that makes the difficult job of choosing priorities any easier.

Making and running more wind farms and rail links means employing capital resources and labour there instead of somewhere else.

"Creating the money" may give us the illusion of more capital resources, but it is only an illusion. I think monetary policy has been pretty successful in recent years, and it would be foolish to throw that away."