High speed rail scheme cost to double to £80bn, economists warn

The Telegraph reports on IEA research

The study by the Institute of Economic Affairs warns the scheme’s cost has been dramatically underestimated and says it “defies economic logic”.

It will bluntly call for it to be cancelled and will suggest ministers are pursing the project to “buy votes” in Labour’s northern heartlands.

The verdict of the report is the latest blow to the troubled scheme and comes after the Department for Transport admitted its own official estimate of the cost was wrong.

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