Belt-tightening

By Mr. de Blasio’s third year in office, the city was employing 287,002 full-time workers, more than at any other point in its modern history, and the number continued to rise until the pandemic. The head count fell to about 313,000 as of September because of belt tightening but is expected to grow in the coming year.

"We need to avoid going cap in hand to government all the time to get the capital projects and rail improvements that we all want." That's the message from SLC Rail Strategy Director Ian Baxter, who has instead called on industry stakeholders, local authorities, and other scheme sponsors to be more "financially innovative" in response to economic belt-tightening in Whitehall departments.

The message coming out of 10 and 11 Downing Street is that a belt-tightening autumn statement will include both tax increases and public spending cuts. Ahead of Jeremy Hunt’s announcement on 17 November , the pitch is being carefully rolled.