In the latest blow to HS2, a new report from the TaxPayers’ Alliance calls on the Government to scrap HS2.
The report, called Rich man’s toy: The case for scrapping HS2, can be downloaded from the TPA website. It looks at the several different aspects of the project and points out that the business case for HS2 has collapsed, with massive official increases in costs since it was first announced, and the likely costs being much greater.
The key findings of the report include:
- Projected costs are rising and are likely to be almost £90 billion
- The business case is flawed and hugely overstates the case for HS2
- Demand for travel on HS2 is uncertain
- Timely delivery of the project is very unlikely
- Other proposals would provide greater value for money than HS2’s Phase One
- HS2 is unlikely to help develop the economy of North England to the extent that has been suggested.
Talking about the report, Jonathan Isaby, Chief Executive of the TaxPayers’ Alliance, said:
“HS2 is a wasteful vanity project which is unlikely to be completed on schedule and will cost taxpayers a fortune. The new Prime Minister should now be pursuing bold and imaginative policies to boost economic growth and increase productivity – and that positive approach must include scrapping HS2, which has cost taxpayers far too much already. Ministers should instead be embarking on more worthwhile infrastructure projects that will cost less and deliver far better value.”
The report also looks at autonomous vehicles, freight and the disruption to Euston which would be caused by building HS2.
We agree with the report’s conclusion:
In summary, before any more money is wasted on this project it should be shut down and the earmarked funds should be spent on more useful projects that offer greater value for money for taxpayers.