High Speed 2 benefits special interests at the expense of the wider economy

In the face of mounting doubts as to the merits of High Speed 2 (HS2), Transport Secretary Patrick McLoughlin continues to maintain that the advantages of the mammoth project are ‘absolutely clear’. Noting a pattern of spiralling costs, Public Accounts Committee Chairwoman Margaret Hodge expressed concerns about the relative benefits of HS2. Given such an unfavourable cost-benefit balance, it may come as a surprise that HS2 lives on just the same. But a bit of historical probing and a consideration of the interests at play may help to explain the resilience of what is such a patently bad idea for the British people.

 

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Source: http://www.iea.org.uk/blog/high-speed-2-benefits-special-interests-at-the-expense-of-the-wider-economy

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