Martin Vander Weyer Martin Vander Weyer

Despite rumours to the contrary, the high-speed loco has left the drawing board

Also in Any Other Business: oil prices, the remaking of Icap and the fate of the Filofax

issue 21 May 2016

There’s a lot of negativity around HS2, and I sniff a Brexit connection. You might think Leave campaigners whose aim is to boost British self-belief would promote the idea that we have a talent for grands projets such as the Olympic Park and Crossrail, rather than a propensity to deliver half what’s promised at double the cost. But there’s also an overlap between Tory MPs opposed to the northbound high-speed rail link, usually because it bisects their constituencies, and Tory MPs opposed to the government on the EU referendum. So I suspect that’s where the trouble lies.

The spin is that cabinet secretary Sir Jeremy Heywood is reviewing the project ‘as fears grow’ that it will bust its already inflated £55 billion budget. Among cost-paring measures, the line may not reach Manchester — or if it does, won’t stop at Manchester Airport. A station at Sheffield’s Meadowhall shopping centre may also be erased; and sections of expensive tunnel are for the axe.

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