It’s not too late to scrap HS2, says IEA rail expert
“HS2 has been a flawed project from the start. It offers limited value for money for taxpayers who will bear the majority of the cost burden: one which is now set to exceed £106bn, over three times what the Government initially planned for, and even that estimate may not reflect the eventual sum.
“There is a need for improving transport capacity, but HS2 is not an efficient or cost-effective solution. Indeed, if the HS2 project made any economic sense private sector organisations would be queuing up to get involved, rather than forcing the ever-increasing costs on the hard-pressed taxpayer.
“It’s not too late to scrap HS2. The government should stop pouring billions into this deeply unpopular vanity project and look at how the current HS2 budget could be spent in other ways. Investment in local transport, lower taxes and less regulation would do far more to regenerate the North of England than an expensive and uncontrollable pet project.”
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