The Mayor of Tees Valley, Ben Houchen, has voiced his support for Chancellor Rishi Sunak's plan to abandon the Manchester leg of the HS2 project, calling it a "white elephant" and a waste of taxpayer money. Speaking at the Tory Party Conference in Manchester, Houchen argued that the funds could be better used elsewhere, as the estimated cost of the project has skyrocketed from £32bn to £180bn.
Chancellor acknowledges escalating costs of HS2
In an interview with Times Radio, Rishi Sunak acknowledged that the cost of HS2 has "escalated far beyond what anyone thought" and described it as an "enormous" financial burden. He emphasized the need for careful consideration and decision-making, as the project involves taxpayers' money. During his speech at the conference, Prime Minister Boris Johnson is expected to provide clarity on the future of HS2.
Make or break moment for Sunak
The unveiling of plans for HS2 during the Prime Minister's conference speech is seen as a crucial moment for Chancellor Rishi Sunak. It is believed that his ability to effectively sell his ideas and vision will determine his political success and may impact the result of the upcoming general election. The confusion surrounding HS2 in recent weeks has created uncertainty, further raising the stakes for Sunak's speech.
Alternative investment in regional transport links
Boris Johnson is expected to announce his intention to redirect the £36bn earmarked for the Birmingham to Manchester leg of HS2 into improving regional transport links in the Midlands and North. This re-purposing of funds aims to address concerns about the escalating costs of HS2, while still investing in vital infrastructure projects that benefit the regions.
