HS2 was always likely to break the bank
Christopher Snowdon writes for The Spectator
Christopher Snowdon writes for The Telegraph
IEA research referenced in The Spectator
The High-Speed Gravy Train, a 2013 paper published by the IEA which argued that the government’s cost-benefit analysis significantly underestimated the costs of HS2, has been referenced in The Spectator.
The article read:
“Few could have foreseen spending exceed the basic budget at such pace, that expected costs would balloon from £36 billion to £100 billion. Yet many did issue warnings that initial estimates were grossly undershooting the likely expense, and these went ignored.
“In 2013, for instance, the Institute of Economic Affairs warned that the decision to build the line was not justified by an analysis of the costs and benefits of the scheme.”
Read the full article here.
You can also read a copy of The High-Speed Gravy Train: Special Interests, Transport Policy and Government Spending here.