According to Ed Balls there will be no future spending cuts before the next General Election!
Of course attendees at last week's Fourth Friday/Modern Railway's Innovation Awards already knew this.
Lord Adonis spoke at the event and took questions at the end.
Asked whether the HLOS was still affordable he replied with a confident one word answer:
"Very!".
As the crescendo of applause died down it became apparent that in some areas of the room the response had been more muted.
Could it have been the presence of a former Rail Regulator that made an entire table of TOC MDs sit on their hands?
Or first hand knowledge of railway finances and the current 'downturn' in passenger revenue?
