Today’s Financial Times (21 August 2013) runs with a front page lead story from “sources inside HM Treasury” claiming that the high speed rail project will eventually cost £73 billion. The rest of the media are running with it, being a slow news day in August which can be padded out with archive guff.
Initial responses, apart from the glee of anti-HS2 groups, are comments that HMT have applied contingency costing rules which do not apply to any other major infrastructure projects.
If so, there is irony of the anti-HS2 groups tweeting their delight at a rising cost based on contingencies in more tunnelling to appease anti-groups.
But there is also the shadowy “pro-car anti-rail” lobby and the Institute of Economic Affairs seems to have become their spokesperson. The report below gives a good analysis of the IEA lobby. It’s the same argument and business forces that designed Los Angeles, anti rail and pro car.