Government’s review of costly HS2 is welcome, says IEA rail expert
21 August 2019
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HS2 was flawed project from the start, says Dr Richard Wellings
Commenting on the Government’s announcement to review the costs and benefits of rail project HS2, the IEA’s Head of Transport Dr Richard Wellings said:
“HS2 was a flawed project from the start. The economic case for it never made much sense, which explains why the rationale for the rail project keeps changing.
“We should welcome the Government’s plan to examine the costs and benefits of this pricey project, which should further highlight that the rail line is years behind schedule and will probably be tens of billions of pounds over-budget.
“The review should also compare how the current HS2 budget could be spent in other ways. Lower taxes, less regulation, and investment in local transport would do far more to regenerate the North of England than a hugely expensive rail line.”
Notes to Editors
For media enquiries please contact Emma Revell, Communications Manager | 07931 698 246
For further IEA reading on HS2, click here.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems and seeks to provide analysis in order to improve the public understanding of economics.
The IEA is a registered educational charity and independent of all political parties.
“HS2 was a flawed project from the start. The economic case for it never made much sense, which explains why the rationale for the rail project keeps changing.
“We should welcome the Government’s plan to examine the costs and benefits of this pricey project, which should further highlight that the rail line is years behind schedule and will probably be tens of billions of pounds over-budget.
“The review should also compare how the current HS2 budget could be spent in other ways. Lower taxes, less regulation, and investment in local transport would do far more to regenerate the North of England than a hugely expensive rail line.”
Notes to Editors
For media enquiries please contact Emma Revell, Communications Manager | 07931 698 246
For further IEA reading on HS2, click here.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems and seeks to provide analysis in order to improve the public understanding of economics.
The IEA is a registered educational charity and independent of all political parties.
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