Parliament 'misled' over cost of HS2

In his report, Lord Berkeley, formerly deputy chair of the Oakervee Review commissioned by the government to evaluate the future of HS2, states that rail services in the Midlands and North can be improved with alternative solutions that are quicker, more economical and would provide commuters in these areas with better daily services. Improvements to the lines to and from London can be delivered without building HS2, which Lord Berkeley said would disrupt and damage businesses, residents and the environment.

This week’s poll: the post-election future of HS2

HS2 contracts worth £6.6bn announced

First proposed by Lord Adonis during the last Labour administration and brought into being by the Conservative-Liberal Democrat coalition government in 2010, HS2 had an initial price tag of £56bn.

According to Lord Berkeley, HS2’s Benefit Cost Ratio (BCR) has fallen below the break-even point of 1:1 and could fall to less than 0.6:1, returning 60p to taxpayers for every £1 spent on the project and falling short of the 2.3:1 BCR used by HS2 Ltd to get the project through various parliamentary stages (Phase One and 2a).