No Result
View All Result
Success American Investors
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Success American Investors
No Result
View All Result
Home Investing

Parliamentary Report Criticises HS2 Northern Leg Cancellation Raising Operational Concerns

by
February 7, 2024
in Investing
0
Parliamentary Report Criticises HS2 Northern Leg Cancellation Raising Operational Concerns
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

A scathing report from parliament’s spending watchdog has raised “urgent unanswered questions” regarding the cancellation of the northern leg of HS2, criticising the government’s understanding of the high-speed railway’s future operations.

The Public Accounts Committee of MPs highlighted concerns that the remaining London-Birmingham line would offer “very poor value for money,” with projected costs expected to far outweigh benefits. The decision to divert £36 billion into alternative transport schemes, including Network North, was met with skepticism.

The report underscored several unknown ramifications, including the impact on promised rail schemes and the disposal of land acquired for the northern extension beyond Birmingham.

Crucially, the Department for Transport (DfT) lacks comprehension of how HS2 will function as a functioning railway following recent alterations, particularly concerning connectivity to the west coast mainline and the limitations posed by track curvature on new trains.

Additionally, the decision to seek private investment for the final stretch into London Euston and station redevelopment was met with skepticism by MPs, who questioned the plausibility of securing private funding.

Chair of the committee, Meg Hillier, expressed concern over the government’s commitment to a project with soaring costs, especially after the decision to curtail the northern leg.

The final costs of HS2 remain uncertain, with current estimates for the London-Birmingham line reaching £67 billion, significantly higher than the initial budget. HS2 Ltd emphasized ongoing efforts to control costs and implement programmatic changes.

The DfT defended its plans, citing extensive private sector support for the Euston project and reiterated its commitment to delivering HS2 cost-effectively.

In response to the cancellation, independent plans are being developed by mayors Andy Street and Andy Burnham to enhance connectivity between West Midlands and Manchester.

Despite challenges, construction milestones for HS2 Phase One continue, with progress on Birmingham’s Curzon Street station and significant advancements in tunnel excavation.

Henri Murison of the Northern Powerhouse Partnership criticized the decision, emphasizing the economic importance of the northern sections of HS2.

The future of HS2 remains uncertain, with stakeholders grappling with cost challenges and operational complexities amidst ongoing developments in Britain’s transportation landscape.

Read more:
Parliamentary Report Criticises HS2 Northern Leg Cancellation Raising Operational Concerns

Previous Post

Virgin Money and TSB planning more job cuts

Next Post

Discover the Incredible Journey of a Prominent Indian Social Enterprise in a Groundbreaking Book

Next Post

Discover the Incredible Journey of a Prominent Indian Social Enterprise in a Groundbreaking Book

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

Vertica: The new Israeli start-up challenger to Viagra proving ‘life-changing’ for men with ED

February 14, 2024

Last Day to Give in 2023!

December 31, 2023
Idaho Bucks Managed Care Trend

Idaho Bucks Managed Care Trend

December 5, 2023

The Producer Price Index

September 9, 2023
Tax changes ‘threaten future of horse racing’, warns parliamentary group

Tax changes ‘threaten future of horse racing’, warns parliamentary group

0

0

0

0
Tax changes ‘threaten future of horse racing’, warns parliamentary group

Tax changes ‘threaten future of horse racing’, warns parliamentary group

June 17, 2025
Poundland to shut 68 stores in restructuring that puts 2,000 jobs at risk

Poundland to shut 68 stores in restructuring that puts 2,000 jobs at risk

June 17, 2025

“Telf AG Unveils Latest Findings on the Characteristics and Applications of Copper Alloys in Industry”

June 17, 2025

“TELF AG Founder, Stanislav Kondrashov, Releases In-Depth Article on the Practical Applications and Characteristics of Copper Alloys”

June 17, 2025

Recent News

Tax changes ‘threaten future of horse racing’, warns parliamentary group

Tax changes ‘threaten future of horse racing’, warns parliamentary group

June 17, 2025
Poundland to shut 68 stores in restructuring that puts 2,000 jobs at risk

Poundland to shut 68 stores in restructuring that puts 2,000 jobs at risk

June 17, 2025

“Telf AG Unveils Latest Findings on the Characteristics and Applications of Copper Alloys in Industry”

June 17, 2025

“TELF AG Founder, Stanislav Kondrashov, Releases In-Depth Article on the Practical Applications and Characteristics of Copper Alloys”

June 17, 2025

Disclaimer: SuccessAmericanInvestors.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 SuccessAmericanInvestors. All Rights Reserved.