Sky News reports on IEA research

The cost of the new High Speed 2 rail network will be £80bn, double the current estimate, according to a new report.

The Institute of Economic Affairs (IEA) says the plan “defies economic logic” and is calling for the project to be cancelled.

The Department for Transport’s official estimate currently stands at £43bn  – a rise from its original figure of £33bn.

The think tank argues that the £80bn price tag could deliver £320bn of value if spent on road and other rail and transport projects.

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