CBI wants an end to ‘damaging speculation’ about HS2

The Government has been urged to put an end to uncertainty about the HS2 project, with a stark warning that continued speculation is undermining confidence and investment decisions.

The Yorkshire & Humber branch of the CBI has spoken out following reports in the national press that the eastern leg of HS2, linking Birmingham with Nottingham, Sheffield and Leeds, looks set to be mothballed in a bid to save £40bn.

The Department for Transport responded that “no decisions” had been finalised.

Beckie Hart, CBI Yorkshire & Humber Director, today said: “HS2 is a project that levels up – a cornerstone of Government and business ambitions. It’s too important a project to downgrade to HS1.5.

“The HS2 network will connect eight of the nation’s 10 biggest cities, creating jobs, opportunity and prosperity throughout the country.

“Reductions in road emissions and congestion will benefit the environment, and improved transport links can forge new collaborations between businesses, cities and regions.

“Continued speculation about the future of HS2 – which undermines confidence and investment decisions – is therefore both unwelcome and damaging.

“Government should put an end to any lingering uncertainty by reaffirming its commitment to delivering HS2, on time and in full, as a foundation stone for an equitable and sustainable future UK economy.”