Three better ways to spend £200bn than HS2

It will be big, shiny and it will make a difference. Even with its astronomical and rising cost and its wobbly economics, it is possible to see the gut appeal of HS2, especially to a big spending government such as this one which can borrow freely at virtually zero cost. After all, it needs to do something to close the gap between the regions. It also needs to improve the country’s transport infrastructure and this project is, at least, almost ready to start.

The trouble is, there are far better ways of spending what is likely to be £200 billion by the time the final bill is due. After all, high-speed trains are a 40-year old technology. There is nothing especially modern about them anymore. And even in far less densely populated countries such as France they struggle to earn a decent return on the money they cost. We could be doing something far bolder with that kind of cash.