19 Aug '11, 9pm

Response to the HS2 Consultation | the new economics foundation via @theneweconomics

As it stands, the Government’s case for a high speed rail link between London and northern cities (HS2) is incomplete and therefore cannot be used as a reliable basis for a decision on the project. Too much has been omitted from the analysis for it to be robust and persuasive. There is positive bias towards the scheme which does not give confidence that HS2 will deliver against its objectives and create more value for society than it will absorb in resources. The Government should postpone a decision on HS2 and commission a full independent analysis of the proposal before proceeding further. It is important to acknowledge the complexities of decision-making on large-scale projects. The bigger the investment, the bigger the opportunity costs. Large, expensive infrastructure schemes with a life-cycle spanning many decades carry especially high opportunity costs. The only way...

Full article: http://www.neweconomics.org/publications/response-to-the-...

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