My views on HS2 since being elected to Parliament in 2010 are well known. I started by supporting the principle of high-speed rail but opposing the route, but the more I have found out about the project, the more I have become convinced it will not be to the benefit of British taxpayers.
We have rightly heard a lot of talk about the value to the economy as a whole of any new railway line, and that is, of course, true: any new railway line will generate jobs and growth. There is no doubt about that, but the essential point that differentiates one project from another is value for money, and that is what we are not hearing about with the necessary level of clarity. What it costs to generate the growth is what matters. Today, we have heard that there is now a £14.4 billion contingency plan, which potentially makes this project 25% more expensive than before.
We have also heard comparisons with the motorway network, the Jubilee line and HS1. They were all very much resisted at the time, but every single one of them was unique in its own way. For motorways, there is a junction every few miles, so everybody benefits from them; they undoubtedly promote growth in our economy. Likewise, the Jubilee line has many stops, and therefore benefits a huge swathe of the population. HS1 is unique in the sense that it was the link to mainland Europe. HS2 is none of those things; it is a decision that we have taken in isolation.