HS2, a high-speed rail line from London to northern England, was projected to cost £32.7 billion in 2011 pounds, or about £40 billion in today’s money. After the Conservative Party-run government approved the line in 2012, costs ballooned to the current estimate of £106 billion, a 165 percent increase. The final cost will probably be even more.
HS2 is supposed to be built in two phases: phase 1 from London to Birmingham and phase 2 from Birmingham to Manchester and Leeds.
Liberals such as the Guardian blame the fiasco on the Conservative government, but they forget that they supported the rail line since the beginning while current Conservative Party leader and prime minister Boris Johnson opposed it. The Guardian cites a report from the National Audit Office that says the government failed to account for the risks and likelihood that the original estimates were too low, something that would have been true of any government that approved the project. Continue reading
