<\/p>\n
HS2 has become a symbol of the country\u2019s decline, said the minister<\/p>\n
Taxpayers will be funding building work on the massively over-budget HS2 rail project for the best part of another two decades, MPs have been told.<\/p>\n
Transport Secretary Heidi Alexander said the projected cost could now hit \u00a3103 billion \u2013 against an original estimate of \u00a337.5bn \u2013 and it may not be fully completed until 2043.<\/p>\n
Two-thirds of this increase is due to \u201cpast misunderstanding of the work required\u201d and \u201cissues within the control of HS2 Ltd, some of its suppliers and previous governments\u201d. The remaining third is linked to inflation, she said.<\/p>\n
The 140-mile line from London to Birmingham had been \u201cgold-plated\u201d with a focus on the \u201chighest possible speeds\u201d resulting in an \u201coverspecced folly\u201d.<\/p>\n
Expressing her frustration, Ms Alexander said: \u201cIf it seems like an obscene increase in time and costs, it is because it is. If it seems like I\u2019m angry, it is because I am.\u201d<\/p>\n
She said Labour had inherited a litany of failure, including soaring costs, and huge contracts handed out without price improvements.<\/p>\n
\u201cInstead of signalling the country\u2019s ambition, HS2 became a symbol of this country\u2019s decline,\u201d she declared.<\/p>\n
Ms Alexander said that a review of costs would see the maximum speed reduced by about 25mph to 199 mph, which will lower the cost by \u00a32.5bn and see the project completed one year sooner.<\/p>\n
The line was originally intended to reach Leeds and Manchester with trains due to begin running this year.<\/p>\n
Ms Alexander said she now expected the first services to run between Old Oak Common in west London and Birmingham between May 2036 and October 2039. The section taking trains to Euston is expected to be ready between May 2040 and December 2043.\u00a0<\/p>\n
The transport secretary said she was \u201cangry on behalf of taxpayers and affected communities who have been swindled by the failure of successive governments. <\/p>\n
\u201cI am angry on behalf of thousands of rail and construction workers giving their all on this project who did not deserve to have their industry tarnished in this way, and angry on behalf of passengers who continue to wait for the new services and new opportunities they deserve.\u201d<\/p>\n
She said the project had turned into the \u201cworld\u2019s most expensive slow-motion car crash\u201d but committed the government to complete the project as cancelling it could cost almost as much while providing none of the benefits.<\/p>\n
\t #HS2 #costs #rise #trains #delayed #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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