Axe 'the grand folly' HS2 line, say business experts
BRITAIN’S bosses have called for the “grand folly” of HS2 to be scrapped.
The Institute of Directors (IoD) said the High Speed 2 railway line will bring little economic benefit to business.
Countryside campaigners have also slammed the link between London, Birmingham and the North, because of the damage it will do to rural England.
A new poll shows 27 per cent of IoD members think HS2 is good value. In 2011, 54 per cent said it would be important to their business, but that has fallen to 41 per cent. IoD chief Simon Walker said the business case for HS2 – due to open in 2026 – “simply is not there”.
He added: “Investment in the West and East Coast main lines ... would be a far more sensible option.”
The Institute of Economic Affairs said HS2 may cost £80billion – nearly double the initial £42.6billion price.
The Department for Transport said: “We need to build HS2. Without it our existing rail network will be full by the mid-2020s.”