Liam Halligan 9 February 2019 9:00 AM 9 February 2019 9:00 AM Share Twitter Facebook LinkedIn Email Whatsapp No one is in any doubt about the problem facing Britain’s railways. Over the past decade, rail fares have risen twice as fast as salaries. Yet across the national network, overcrowding is at record levels, cancellations are spiralling and passenger dissatisfaction is at a ten-year high. Yet ministers are about to start pouring £4.5 billion a year, every year for a decade, into building a single new railway route: HS2. To put this into perspective, the amount annually maintaining and upgrading the rest of the rail network is £6 billion. It’s a trap that we can, even now, avoid. Much has changed since the scheme was launched in 2010. Official cost estimates have almost doubled — from £33 billion to £56 billion. And even this might be modest: independent industry experts put the eventual bill above £100 billion. If true, then Britain will have achieved a world record — the most expensive railway ever built. The controversy has so far focused on the shabby treatment of those with homes on the HS2 route, subject to compulsory purchase. The fat taxpayer-funded salaries of… Read full this story
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