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Sunday, 15 November 2015

HS2 remains an insane waste of money, as costs for this "prestige project" spiral out of control.

Cost of London-to-Birmingham leg of proposed new railway a third higher than previously estimated

Campaigners against the proposed HS2 railway line

This insane waste of tax payers (that's us) money has not even started, and already we are being informed that the cost has increased to an estimated £80 billion. Osborne has promised "austerity" for the next 20 years in order to control government spending and "bear down"on the deficit, and yet the amount to be spent on this lunatic project increases almost monthly. Apparently, vast sums of money can de found for "prestige projects" to satisfy some politician's (and some business men's) ego's, but the country cannot afford to allocate, what in comparison, are modest sums for the provision of care for the elderly, or working tax credits, or NHS facilities, or one hundred other things for the welfare of people generally.

Chancellor of the Exchequer George Osborne

I have written previously, that the cost of this "white elephant" will spiral dramatically before the first JCB excavates the first trench at the start of the project. Today's announcement that the cost of the London-to-Birmingham leg alone is estimated to rise by £10 billion, is only the latest but certainly not the last, advance warning that the Chancellor and the industrial interests promoting this absurdity, will seek more and more taxpayers money  to finance the project. The weasel words emanating from some in Parliament and also from certain elements within the business community, promise a project which is "good for Britain"  and "ensuring the long term future" and even "producing thousands of jobs". Nothing could be further from the truth. The fact remains that the historical evidence  shows us that British industry, steel makers, rail engine and carriage builders, rail track manufactures, and all the associated industries will not benefit one iota from the expenditure on this project, as all the resultant contracts will be awarded to industries in Germany, Korea, Indonesia or China.   In the event that this project does proceed as currently planned, the costs will undoubtedly rise dramatically, and the British people will be paying the price both financially and socially, for generations to come.