Friday, 5 July 2013

Financial Times: Case For HS2 "Unconvincing"

As the latest estimated cost of the proposed High Speed Rail (HS2) jumps from £33billion to over £42billion, the case for the project according to the Financial Times is "unconvincing".

Now the Guardian reports that ministers have "misled the public" over the true costs and benefits of the scheme.

The puzzle about this project is why the Tories are so keen on it, since it tramples through so many Conservative constituencies (without stopping) and whose returns, even before the latest revisions, were marginal.

Since then, mobile internet and tablets have made the time fly, and even the former CEO of what is now HS1 thinks HS2 is “away with the fairies”. 

I firmly believe that HS2 will never be built.

However, it is time for the coalition government to stop this white elephant in it's tracks, cut our losses and spend money on more productive public investments, such  as a badly needed new house building programme.

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