Who wants to pay for HS2 infrastructure?

David Cameron’s speech on Monday, which we reported on yesterday, mentioned numerous other infrastructure projects, as well as HS2.

For instance, David Cameron compared the time it took to build Terminal 5 at Heathrow to the time it will take to build HS2. Terminal 5 was mainly paid for by BAA and, unlike HS2, had had a public inquiry: the shareholders could see the returns were worth the money spent on it.

HS2 will be paid for by the taxpayer out of central government funds.

David Cameron pointed out that “the market alone will deliver the next generation of broadband” to two thirds of the population. Telecomms companies are willing to put in the capital investment themselves.

But HS2 will be paid for by the taxpayer out of central government funds.

David Cameron said “Crossrail is the largest engineering project in all of Europe“. The Crossrail website tells us “Over 60% of Crossrail’s funding will come from Londoners and London businesses.” As evidence given during the Transport Select Committee inquiry into high speed rail showed, even businesses who might benefit from an HS2 station near them don’t want to pay for HS2.

HS2 will be paid for by the taxpayer out of central government funds.

As a final thought, David Cameron talked about the Victorians building the first London to Birmingham railway. Victorian private investors put up the money for this railway.

HS2 will be paid for by the taxpayer out of central government funds.

David Cameron talked about “environmental sustainability” and “vested interests”. Meanwhile he he is pushing the agenda of the vested interests who will take millions of pounds from the taxpayer to build HS2, but he dismisses the concerns of people who see that HS2 is a massive environmentally damaging white elephant.

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