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Economic uncertainty leaves the case for HS2
in question
WHILE the financial markets and the UK at large continue
to digest Friday's shock result in the EU referendum, 1 thing is patently clear;
now is not the time for the government to press on with what some see as an ill
conceived and economically flawed infrastructure project that could end up
costing over £75 billion.
The economic instability of last Friday, specifically the plunge of the sterling
and the FTSE, may be a harbinger of things to come and will almost certainly
force the government to re-evaluate its spending priorities in the face of a
probable economic downturn. All policy areas will come under increased scrutiny
and transport infrastructure will be no exception. In a piece in this morning's
FT, the newspaper argues that controversial projects such as HS2, Hinkley Point
and a 3rd runway at Heathrow could be subject to a government rethink. The piece
quoted Lord Berkeley, the Labour peer and transport expert, who opined that:-
"the priority for the government at this time will not be big sexy projects
such as HS2."
Spending in excess of £50 billion on HS2, a high speed rail line that will
predominantly serve London and not address the capacity and connectivity issues
of the current rail network, makes even less sense than it did before the vote
to leave the European Union. A study of the facts reveals that the
environmental, business and economic case for HS2 is dubious at best and at
worst a waste of precious taxpayer money that could be better allocated
elsewhere.
High speed rail has an important role to play in developing a better connected
and higher capacity rail network for UK and it is high time that a viable an
alternative to HS2, such as HSUK, was full explored. The HS2 project has not
been fully thought through and there has been a failure of due process in
arriving at the current proposals for high speed rail in this country.
Especially as HS2 in its current format misses out Liverpool and other key
Cities.
High Speed UK (HSUK), a rival scheme that costs less, delivers more and can be
built quicker trumps HS2 in every aspect. It is imperative that the House of
Lords, where the High Speed Rail Bill currently resides, examine alternatives to
the flawed HS2 project.
HSUK is
a fully mapped, timetabled and costed high speed rail scheme designed by highly
experienced British railway engineers. HSUK's route is mostly on the surface
following the M1 and other established transport corridors. It avoids HS2's
unprecedented lengths of highly expensive tunnel and its intrusion into
sensitive areas, including the Chilterns AONB. HSUK would connect many more
cities, meet climate change targets and fulfil the objectives of HS3 to create a
'Northern Powerhouse'. It provides 4 tracks of North / South capacity
and, on a like for like basis, costs £21 billion less than HS2. Moreover, HSUK
would integrate with the existing rail network and improve regional economies
across the UK.
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