Can’t polish a third
The cost of the London-to-Birmingham leg of Britain’s proposed new railway, High Speed Two (HS2), is approaching £30bn – a third higher than previously estimated, wrote The Independent’s Mark Leftly.
A third higher than previously estimated by the government and the HS2 blob, perhaps.
[HS2: Cost of London-to-Birmingham leg of proposed new railway a third higher than previously estimated, The Independent, 14 Nov 2015]
The team behind the project, HS2 Ltd, has been asked to submit updated costs of the railway’s first phase to the Treasury ahead of the Comprehensive Spending Review (CSR) later this month.
Previously, the London-to-Birmingham link was forecast at £21.4bn, but this was at 2011 prices. The new estimate is designed to reflect better what will have been spent at real prices when the first phase starts carrying passengers at speeds of up to 250mph in 2026.
The first rule of HS2 monitoring is, “Don’t believe the blob”.