Although the concept may seem complicated at first sight, it merely refers to the impact of expected budgetary developments on private consumption. These non-Keynesian effects could further dampen the impact of an active budget policy.
What matters for these things is whether we are taking advantage of profitable opportunities and using labour and capital in the most productive ways that we can. Also, it is worth emphasising that many services require high levels of human capital – in the form of education and training – which does not get picked up in investment as measured by the national accounts.