Productivity collapses once you pay more to "approve" a project than the project costs to implement

From Foundations: Why Britain has stagnated by Ben Southwood, Samuel Hughes, and Sam Bowman.

Full of interesting findings, such as:

The planning documentation for the Lower Thames Crossing, a proposed tunnel under the Thames connecting Kent and Essex, runs to 360,000 pages, and the application process alone has cost £297 million. That is more than twice as much as it cost in Norway to actually build the longest road tunnel in the world.