The national debt has now reached 80 per cent of national income – £1.45 trillion – a record high. It is surely time to look again at the cost of the HS2 high speed railway project.
According to the Department for Transport, HS2 will cost £43 billion, although other experts put the figure much higher, stating that it will cost £320 million per mile.
If it works, trains will arrive from Birmingham to London no more than 20 minutes earlier. There is also the requirement, as yet uncosted, for additional electricity capacity to run the trains, while electricity generation is being undermined by the decarbonisation lobby.
Although the main political parties all support this Labour-initiated expenditure, there is tremendous opposition to the whole project the length and breadth of the country.
Some 20 local authorities oppose it, as do many important environmental groups.
It is another example of London taking expenditure from northern Britain and will exacerbate divisions within the country when these should be diminished.
It is a foolish scheme and should be scrapped.