In a surprising development, Rishi Sunak, the UK Chancellor of the Exchequer, has spoken out about the escalating costs of the HS2 project. During the third day of the Tory Party Conference, Sunak admitted that the Manchester leg of the high-speed rail project is likely to be scrapped.
Costs beyond expectations
Rishi Sunak stated that the costs of the HS2 project have far exceeded initial estimations. He stressed that the sum involved is "enormous" and that the Prime Minister is taking the necessary time to carefully consider the details before making a decision.
Major conference speech to reveal plans
Prime Minister's major conference speech, expected tomorrow, is set to provide clarity on the future of HS2. Sunak's ability to successfully sell his vision during the address will be crucial for his political future.
Shifting focus to regional transport links
In a shift from the original plan, it is anticipated that the government will invest the £36bn allocated for HS2 into developing regional transport links in the Midlands and North. This decision has caused conflict within the Conservative Party, with some members expressing their commitment to keeping HS2.
West Midlands Mayor vows to fight
Amidst the uncertainty surrounding HS2, the West Midlands Mayor, Andy Street, has publicly declared that he will not let the project be scrapped without a fight. He emphasized the importance of keeping promises made to the international investment community.
