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Business leaders attack HS2 'folly'

The Institute of Directors (IoD) has joined those calling for HS2 to be scrapped, branding the project "a grand folly".

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Scrapping HS2 would be the 'grandest folly of all'

The Midlands Trades Union Congress has hit back at the Institute of Director's description of the HS2 project as 'a grand folly.'

…To raid the HS2 budget would be the grandest folly of all. It would be yet another example of short sightedness that has crippled the UK economy for far too long. HS2 represents medium term investment that secures long term, sustainable economic returns. And let us look at some of the projections: 400,000 jobs as a result of HS2, with 20,000 construction jobs for 15 years and a boost to economic performance that means the cost of HS2 would be recovered in just two years.

The benefits to the Midlands regional economy are clear with the transformational benefits potentially profound. That is why supporters of HS2 must keep banging the drum and pointing out the benefits for our economy and the opportunities HS2 will bring for the people who live here.

– Rob Johnston, Midlands TUC Regional Secretary
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Business leaders attack HS2 'folly'

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