Abstract
Although this study is devoted to transport in counter cyclical policy, which is by definition short or medium term policy, this is irrevocably tied up with longer term policies of governments which may, as with the counter-cyclical policies, have direct or indirect effects on the transport industry. Thus the effects of counter-cyclical measures will depend upon the structure and operating of a particular mode, both of which will have been determined in substantial measure by the long term policy of governments towards the transport industry.