HS2 RAIL SCHEME – NOT YET ON TRACK?

The proposed HS2 rail project, creating a faster connection between the north and south of England is rumbling along after the Government revised its estimate of cost to benefit.

The expected benefit-cost ratio (BRC) has fallen from £2.50 to £2.30 in benefits for every pound spent, mainly due to a £10bn increase in the scheme’s projected £42.6bn cost which was made earlier this year.

Speaking on BBC breakfast this mornng, Transport secretary Patrick McLoughlin said HS2 could be delivered under its £42bn budget, including a contingency. He stated that the 1st phase from London to Birmingham had been allocated a budget of £21bn and called for cross-party support, despite shadow minister Ed Balls saying that the labour party “wouldn’t waste money” on the scheme. 

Mr McLoughlin continued saying that big projects always attract controversy but that councils saw this as an important move for their cities, despite some members of the IOD calling git a “grand folly”.

The explained that tthe Government will today be setting out the benefits of HS2 and reminded viewers that the Jubilee line in London had caused mch debate but that the benfits were to be clearly seen at Canary Wharf.

“High speed is essential for the long term sustainability of the rail network and that it would create a fater connection for UK cities Leeds, Manchester and Birmingham”.

        The government insists HS2 will
        boost the UK economy.

        HS2 is intended to allow trains to run
        at 250mph (400km/h) from London to
        Birmingham from 2026, with
        branches to Manchester and Leeds
        via Sheffield planned for 2033.

        The estimated cost of the plan has
        risen in the past few months from
        £34.2bn to £42.6bn – plus £7.5bn for
        rolling stock.

The alternative to a new HS2 high speed rail link would mean 14 years of weekend route closures while existing lines are upgraded, a government-commissioned report says.

Source: BBC