So who should be most in favour of HS2, the proposed high-speed rail connection from London to Birmingham and the north?
Well if it is as essential to the economy as we are told it is, business should be lobbying hard in its favour.
Are they? … No, they are not!

According to a
report in yesterday’s
Independent, and elsewhere, the Institute of Directors (ie. the captains of our businesses) considers HS2 “a giant folly”. Just 41% of IoD members consider HS2 important for their business and only 27% see it as good value for money.
Businesses know value for money when they see it, and our research shows that they don’t see it in the Government’s case for HS2 … The IoD cannot support the Government’s current economic case for HS2 … We agree with the need for key infrastructure spending, but the business case for HS2 simply is not there. The money would be far better spent elsewhere and in a way that will benefit much more of the country. Investment in the West and East Coast main lines, combined with a variety of other infrastructure projects, would be a far more sensible option.
[Simon Walker, IoD Director-General]
Interestingly there was another report in the Telegraph last December (which I had not previously picked up) exposing the fact that the projected passenger numbers also do not stack up with the business case.
Hurrah for some common sense! I’ve been saying this since HS2 was first mooted. Cynically I’d say that HS2 is the rail industry willy-waving and indulging in self-aggrandisement to distract from the fact that is hasn’t/can’t sort out the current rail infrastructure and get that working efficiently — something which should cost a lot less than the currently projected £50billion price tag for HS2. Let’s sort out what we have first and then see if we still need such a massive, environmentally and financially destructive project as HS2.
And anyway, in the current economic climate, do we really have this amount of money to throw around?