HS2 predicted benefit falls
The expected benefit-cost ratio of the HS2 has been revised down in the Government's latest report, falling from £2.50 benefit for every pound spent to £2.30.
HS2 will be the 'new backbone of Britain'
Transport Secretary Patrick McLoughlin has backed the controversial HS2 scheme, insisting it will become the new "backbone of Britain".
Opponents of the scheme, who believe the project is a waste of money and should be scrapped, seized on an official report published today which revealed that the estimated economic benefits of the £50 billion project are falling.
However, Mr McLoughlin argued the line was not "some expensive add-on" but a scheme which would help people with their daily lives.
Speaking at the National Rail Conference in Manchester, the MP said:
"As the impact of this week’s storm in the south shows, when trains are crowded and disrupted, life for hardworking people gets more difficult. That’s why the new north-south line isn’t some expensive add on. It’s about helping people with their daily lives.
"It’s needed to help commuters who now have to stand - and will soon have to queue - to get on their trains. It’s needed to help the cities of the north which want to compete on equal terms with London. It will be the new backbone of Britain."
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