HS2 firm spent £300m on rail link since 2011 January 12, 2014 THE COST of building HS2, the new high-speed rail link between London and Birmingham, could spiral out of control, a campaign group has warned. The Taxpayers’ Alliance has published figures showing that HS2 Ltd, the publically-funded company set up to develop the rail link, has spent £300m since January 2011. Of this figure, over £1m [...]
HS2 bill begins its long route to the starting line November 25, 2013 THE GOVERNMENT kicked off years of parliamentary jostling over the High Speed 2 project yesterday by publishing the law needed to start building work. The hybrid bill was hailed as a major step forward by supporters and a vanity project by campaigners attempting to block the scheme. The bill sets out street by street the [...]
HS2 benefits downgraded again October 29, 2013 Department for Transport lowers forecasts to reflect soaring budget for the new railway THE GOVERNMENT scaled back the forecasted benefits of the High Speed 2 railway yesterday, but insisted that the £50bn project will still be a huge positive for the economy. The full Y-shaped route from London to Birmingham, Manchester and Leeds is now [...]
FTSE bosses lose faith in high speed 2 October 28, 2013 LEADERS of the country’s biggest companies are losing faith in the planned High Speed 2 railway, a poll out yesterday showed, in spite of a renewed push by the government to convince businesses that the project will benefit the economy. A poll of 34 of the FTSE 100’s chairmen found that 49 per cent believe [...]
Budget for High Speed 2 to face fresh questions October 28, 2013 THE BUDGET for the controversial High Speed 2 railway is under the spotlight this week as a new business case for the scheme is published and MPs vote on a bill that allows the project to proceed. Danny Alexander, the Treasury minister, said yesterday he is “very confident” that HS2 will be delivered within its [...]
Think tank says HS2 must link up with regions October 20, 2013 NEW research on the controversial High Speed 2 project has found that the scheme could benefit the British economy – providing it is properly joined up to the rest of the rail network. The Independent Transport Commission found that the £42.6bn link between London, Birmingham, Manchester and Leeds will help regenerate regions near the route [...]
Top MPs call for HS2 plans to be put on ice pending review October 7, 2013 THE CASE for the High Speed 2 rail project is full of holes and must be calculated again before work can begin, an influential committee of MPs said yesterday. The Treasury Select Committee expressed shock at budget hikes even before building work has started, and want confirmation of the forecast benefits of the north-south rail [...]
Osborne targets budget surplus September 30, 2013 GEORGE Osborne yesterday promised a future Conservative government would attempt to run a budget surplus by 2020, indicating that his party’s commitment to austerity is here to stay. The chancellor told his party’s annual conference in Manchester that, assuming the economic recovery continues, he would seek to ensure the government’s income is more than its [...]
New HS2 chair hopes to speed up construction on the railway September 26, 2013 THE NEW chairman of High Speed 2 hopes to get construction on the railway started sooner than planned, as he works to win round politicians and the public on the controversial project. Sir David Higgins, who will start in January, said he does not understand “why it needs to take so long – and time [...]
Network Rail chief to help get High Speed 2 plan back on track September 25, 2013 HIGH SPEED 2 has hired the outgoing head of Network Rail to try and steer the project through its latest political problems. Sir David Higgins, who led the Olympic Delivery Authority until he joined Network Rail in 2011, will join HS2 Limited for one day a week from January as he takes the chairmanship from [...]