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The problem with ring fencing too much is when an unexpected large disaster happens.
If every pot is ring fenced you'd probably have to pay much more tax. If you can't move the money around you'd need the pot for bridges to be enough for a unexpected collapse, the pot for building to have enough to cover a huge fire, the roads pot large enough to cover any unexpected landslide or sink holes, and so on.
There can still be a general pot from income tax etc for such things.