HS2 “will cost £73 billion” scare story quoted in FT today

Today’s Financial Times (21 August 2013) runs with a front page lead story from “sources inside HM Treasury” claiming that the high speed rail project will eventually cost £73 billion. The rest of the media are running with it, being a slow news day in August which can be padded out with archive guff.

Initial responses, apart from the glee of anti-HS2 groups, are comments that HMT have applied contingency costing rules which do not apply to any other major infrastructure projects.

If so, there is irony of the anti-HS2 groups tweeting their delight at a rising cost based on contingencies in more tunnelling to appease anti-groups.

But there is also the shadowy “pro-car anti-rail” lobby and the Institute of Economic Affairs seems to have become their spokesperson. The report below gives a good analysis of the IEA lobby. It’s the same argument and business forces that designed Los Angeles, anti rail and pro car.

Link
www.out-law.com/en/articles/2013/august/changes-to-hs2-plans-to-appease-project-opponents-could-almost-double-costs-says-think-tank

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