Shadow chancellor Ed Balls has become the latest politician to question the costs of the proposed High Speed 2 rail link.
HS2 has been under fire from business groups, such as the Institute of Directors, and the House of Commons’ Public Accounts Committee in the last few weeks. Currently the project is set to cost an estimated £42.6 billion, although buying new trains would take this up to £50 billion.
Balls told the Labour conference in Brighton on Monday (September 23) that the country needed more long-term investment on infrastructure but the government “must also set the right priorities and get value for money”.
The first phase of HS2 from London’s Euston to Birmingham is due to open in 2026 before extending further north to Manchester and Leeds from 2032.
“We continue to back the idea of a new north-south rail link,” said Balls. “But under this government the High Speed 2 project has been totally mismanaged and the costs have shot up to £50 billion.
“David Cameron and George Osborne have made clear they will go full steam ahead with this project – no matter how much the costs spiral up and up. They seem willing to put their own pride and vanity above best value for money for the taxpayer.”
Balls added that Labour would not take “this irresponsible approach” and there would be no “blank cheque” for any transport project, should the party win the next general election in 2015.
“The question is - not just whether a new high speed line is a good idea or a bad idea, but whether it is the best way to spend £50 billion for the future of our country,” he said.
Chancellor Osborne and transport secretary Patrick McLoughlin have continued to strongly support HS2 in public.
The project’s leader Lord Deighton last week did not dismiss an idea to end the HS2 line outside of central London to save costs.