The Eildons Perspective

The Eildon hills provide spectacular views, particularly south across the Scottish border into northern England. These occasional commentaries are intended to provide topical and unique cross discipline analysis, principally on UK water, waste, & infrastructure developments. In the modern era of spin and short-termism, the longer term economic effects of public policy decisions are often overlooked. These perspectives are intended to provide insightful interpretations of the longer term dimensions, and hopefully provoke debate.

Robert Miller-Bakewell draws on more than three decades of experience as an equity analyst with Wood Mackenzie, NatWest Markets, and Merrill Lynch.

- Raking through the MRF

The sharp change in the economic outlook over the past six months has revealed the fragility of the global recycling value chain. Too much reliance had been placed on China as a market for recovered materials. This outlet had blinded European politicians to the need to think longer term, and develop indigenous markets for recovered materials. The European waste industry has continued to be caught in the downdraft of Veolia Environnement's mid October, and not necessarily last, profits warning. The knee jerk reaction has been that all waste services corporates face the same predicaments. The reality is different, but equally it shouldn't detract from obvious public policy failures. - Read More - (February 2009)

- Floods - A Re-think On Funding Is Overdue

Another severe weather event has triggered yet another outbreak of flooding. The Pitt Report is only part of the answer, and is mainly about improving procedures across the many public bodies involved in tackling flooding. Careful framing of the terms of reference ensured that Pitt didn't stray onto the thin ice of financial resources. Unsurprisingly, the UK Government appears to be in denial regarding the need for a step change in funding levels for flood defences and a rethink on how these funds are spent. - Read More - (February 2009)