MPs slam case for High Speed Two

MPs of the Commons Public Accounts Committee (PAC) have found the government has yet to set out a convincing case for the High Speed Two (HS2) rail project.

The committee, which is chaired by Margaret Hodge, criticised the £42.6bn price tag of the scheme and insisted there was no evidence suggesting it would boost regional economies.

Hodge said: “The evidence that we looked at suggested that when you improve the link between a capital and provincial cities what actually happens is you draw economic activity down to the capital. You don’t stimulate activity in the cities.”

In addition to “sucking” activity back into London, it accused...

Continued...

» Register now

The full article is available to registered AccountingWEB members only. To read the rest of this article you’ll need to login or register.

Registration is FREE and allows you to view all content, ask questions, comment and much more.

Comments
Red Leader's picture

doing their job    1 thanks

Red Leader | | Permalink

This is exactly the sort of thing that needs MPs attention. Billions at stake. A far better use of their time than scoring cheap points about whether an ex-BBC employee has received too much redundancy pay. Perspective!

Waste of time.....

chippyberg | | Permalink

Surely any time spent investigating the blatant misuse of public funds is time well spent, be it the HS2 or BBC. I am of the view that the budget for the HS2 would be better resourced on improving the existing networks but lil ol' me isn't going to change anything! (In my village we have one train per hour, and same with the buses, which stops at 6pm!)

In all fairness I think the main cause for concern with the BBC is what the aim is by throwing massive payouts at ex-staff, what do they know, or rather, what are they paying them to forget?

effects regionally.    1 thanks

tomriv801 | | Permalink

Coventry for example. yes there is some glimmers of increase in economic hope around Coventry at the moment even if skight. warwick university being the backbone. but hs2 will do this no good as the execs will from out of the area will not want to transfer from delux trains arriving in Birmingham onto more inferior trains and buses with two or three changes to backtrack to ansty park and other employment sites around Coventry. inclement weather at the change points will have an effect and these masters with their brief cases of inward investment funds will not want to get wet and cold standing on platforms and bus stations getting wet and cold. unless of course, the government is going to pay for fleets of stretch limos complete with caviar, chips and bubbly to transfer these people direct to Coventry.sounds a bit practical for many perhaps but c'est the real world.

Backing Britian

payroll.shacter... | | Permalink

My biggest worry if HS2 goes ahead is that the work will go to foreign companies both for the ground work and the trains to run on them

if it could be guareanteed that it was completely done by UK companies employing UK workers it might make a diffence but under current ways of alloting jobs we see most of our hard earned taxes fling out the door so where are the benifits then

we have a good work force and many good manufacturing companies in the UK these should be used on all projects being funded from our taxes

 

robertlovell's picture

KPMG outlines economic benefits of HS2

robertlovell | | Permalink

A new study from KPMG has revealed HS2 could deliver an annual £15bn boost to the UK economy and increase GDP by 0.8% from 2037.

It added that the impact of the project will be felt in the regions and not only London.

The Big Four firm looked at how transport links have fuelled productivity in other cities, placing importance on the number of new seats created across the rail network, meaning passengers can work while travelling, plus the benefits of saving time.

The study says cities in the Midlands and North could see their economy boosted by more than five times that felt in London.

HS2 Ltd commissioned KPMG to carry out the report.

payment.

tomriv801 | | Permalink

kpmg get paid hugely from political motivated commissions. nearly all the reports from 'in house' or government sponsored agencies including objectively motivated academic institutions, etc. have as good as condemned hs2. seeing the huge amounts of money involved etc., has the government even lightly considered the Californian proposals for 'hyperloop'. interestly, it was conceived in broad concept back in the mid 1800's and put into practical effect thereafter. Switzerland put much research into the concept in recent decades and was not thrown out as either unaffordable or impractical. a third of the cost to build and a third the cost of tickets.why has not the government not put a relatively small amount to support further research etc. after all, they put the u.k. up as the leader of innovation and research. and keep saying that mass transit is the priority for the future of the nation.further detail in believable and easily readable form can be found on Wikipedia via google.