HS2 project should go ahead ‘in full’, says leaked report
The HS2 project should go ahead “in full” – according to a leaked report in The Times.
The newspaper reports that the Oakervee review into HS2 says that despite the cost of the project soaring to £88bn, the government should commit to the full high-speed rail network.
Oakervee also concludes that the economic benefit to the taxpayer from HS2 has fallen dramatically from £2.30 for every £1 spent, in 2017, to £1.30 now.
£9bn has already been spent on HS2, and the report estimates it will cost between £2.5bn to £3.6bn to cancel it.
The leaked report also states that the procurement strategy for the first phase of HS2 – from London to Birmingham – has been a “failure”, with prices “significantly inflated”.
The review goes on to say that HS2 would benefit cities more in the Midlands and the North than London, and that there are no “shovel-ready alternatives” to improve rail capacity.
The review had been slated to be published after the forthcoming General Election because of purdah rules.
Mike Tuck, director at Bildurn, told TheBusinessDesk.com: ” The HS2 scheme doesn’t only provide improved links to the capital it also provides improved links between the Northern Powerhouse and the Midlands Engine.
“Two regions that although close geographically seem to act independently despite the opportunities offered by a more collective approach. Take Nottingham and Sheffield for example. Both cities have two universities and both cities have evolved to become hubs for the financial services industries and both are making big gains in the digital industries. The synergy between these regions should be harnessed. Competition is healthy and improved access to an increased talent pool can only be a good thing.
“The message is more than an ode to London. The Northern Powerhouse needs to know that the Midlands Engine is open for business and vice versa with HS2 blazing a trail.”
The leak contradicts reports by ITV News in October that said, according to Government sources, the East Midlands leg of HS2, which would run to Toton, would be scrapped.
