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Ministers stand accused of “misleading” British taxpayers about the true cost of the HS2 project, with official documents revealing the real price tag could hit more than £112 billion – a staggering £10 billion higher than the figure announced to Parliament. This comes as the project’s CEO admits the budget has “doubled in five years.”
Hidden Inflation Adds Billions to HS2 Bill
Transport Secretary Heidi Alexander told the Commons yesterday that the severely delayed HS2 project would now cost up to £102.7 billion. However, the Daily Mail reports that official documents buried in the small print reveal this figure excludes projected inflation, which could add another £10 billion to the bill.
Once HS2’s internal inflation forecasts are included, taxpayers are actually on the hook for more than £112 billion to deliver the project. The documents state the provisional cash estimate is between £94.3 billion and £112.4 billion, including projected inflation using HS2 Ltd’s bespoke indices.
“Definition of Insanity” and “Bureaucratic Incompetence”
Tory shadow transport minister Greg Smith, MP for Mid Buckinghamshire, slammed the inflated costs, telling the Daily Mail it was “the very definition of insanity” to spend £112 billion to get to Birmingham a few minutes quicker. He added there seems to be “no limit to the amount of cash ministers are willing to put taxpayers on the hook for.”
John O’Connell, chief executive of the TaxPayers’ Alliance, expressed his outrage, stating that taxpayers would be “livid” at being misled. He called the potential £112 billion price tag a “staggering indictment of political vanity, bureaucratic incompetence and years of catastrophic mismanagement.”
- Transport Secretary Heidi Alexander announced a cost of up to £102.7 billion to Parliament.
- Official documents reveal this figure excludes inflation, adding another £10 billion.
- The true cost, including inflation, is projected to be over £112 billion.
- HS2 CEO Mark Wild stated the project’s budget has “doubled in five years.”
- HS2’s original budget in February 2020 was £44.6 billion for the London to Birmingham line.
- The northern legs to Manchester and Leeds were axed due to spiralling costs and delays.
What This Means for Britain
This hidden £10 billion cost means more of your hard-earned money is being poured into a project already plagued by delays and budget overruns.
The constant escalation in HS2’s price tag directly impacts public services, as funds are diverted from areas like the NHS, policing, or vital local infrastructure projects.
The admission by the HS2 CEO that the budget has “doubled in five years” highlights a shocking lack of financial control and accountability within government projects.
For ordinary British families, this means higher taxes and less money available for essential services, all while politicians continue to bankroll projects that offer questionable value for money.
The failure to be transparent with the true costs erodes trust in government and makes it harder for you to hold decision-makers accountable for their spending.
Share if you believe politicians should be honest about how they spend your money.
This article is a factual summary of reporting by The Daily Mail. Full original story available on their website. All quotes directly attributed.
Source: Daily Mail | Breaking Brexit News
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The HS2 white elephant was a diktat from the EU for Britain to build as part of the EU Ten-T programme. The EU promised to help fund it but pulled out the funding after work had started. That was the first time the budget skyrocketed but obviously they couldn’t tell you it was because the EU pulled their funding. We should have pulled the plug then, or was that against the EU rules ? If you google EU Ten-T Programme you will see on their page that one of the benefits was to have “Military Mobility”
Nowt to do with getting from London to Birmingham faster.
Also HS2 was not the last white elephant planned by the EU, there was more to come. The Northern section was the second one. You can still find the old Ten-T maps showing what was planned if you really search, they took most of them down when we left.