Sunday, 27 June 2021

HS2 flying under the radar with all the other issues

The TPA writes on this topic [newsletter, no url]:

High Speed 2 has yet again hit the headlines following a cost increase of £1.7 billion owing to social distancing measures on construction sites. This follows a hike of £800 million to the cost of Phase 1 after complications at Euston station just a few months ago.

As part of our regular War on Waste segment on GB News, our chief executive John O'Connell took to the airwaves to fight taxpayers' corner. Speaking to presenter Michelle Dewberry he stressed that the business case for HS2 "has been flawed from the start". 

Adding that the original cost estimate was around £30 billion and the current figure of £106 billion will probably soar even higher.

Michelle was quick to point out that the working from home revolution will surely put pa[id] to this white elephant project. John heartily agreed but unfortunately for taxpayers, "Politicians like big shiny projects that they can show off to the electorate."

In his closing remarks, John was adamant that HS2 must be scrapped. This sort of wasteful spending wouldn't be tolerated in the private sector which would have cut its losses by now given the significant cost overruns and delays. If the government is determined to press ahead then it must get costs under control. There is no magic money tree, costs cannot be allowed to increase exponentially. 

The final bill could be as high as £170 billion. The TaxPayers' Alliance will hold HS2's feet to the fire. We will do everything possible to get the best deal for Britain's taxpayers.

1 comment:

  1. Governments have a terrible record when it comes to financing projects like this. When the proposals came in with the £30 billion estimate the government should have said "Go and build it, we'll pay you £40 billion when it's finished. If your estimate is half way decent you should have no trouble getting finance and you'll make a tidy profit."

    Instead, the poor bloody taxpayer is on the hook to the tune of £2000 or £3000 each. Would you pay £3000 to enable somebody else to get from Birmingham to London a few minutes faster?

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