Just to make my personal position clear, I have long since taken the view that CR2 should have been built many years ago.
But the political reality is that it has little prospects of getting funded any time soon. Any discussion, here or elsewhere, of the details is crayonista fantasy. We are dealing with a government that has recently authorised a spend of £100 billion or more on HST2. That authority was given after massive Treasury resistance. That objection would be, inter alia, on the usual grounds that it generates little or no continuing tax revenue and is thus undesirable. By way of contrast, a new motorway generates loads of tax revenue via excise duties on road fuel. Or will until electric vehicles become popular which is some way into the future. And, of course, the Treasury is collectively aware that HST2 is merely a pretext to cover the Tory party’s wish to repay its key donor group, the UK building and civil engineering sector. Take their contributions out of the Tory party’s income and expenditure account and you will find a very large deficit.
Elected politicians can, of course, overrule the Treasury. But any reading of UK political history will bring you to the conclusion that repeatedly doing so is likely to end unhappily. The point that most politicians miss, along with many other people, is that policy grade Treasury staff are vastly more intelligent and capable than they are.
But the political reality is that it has little prospects of getting funded any time soon. Any discussion, here or elsewhere, of the details is crayonista fantasy. We are dealing with a government that has recently authorised a spend of £100 billion or more on HST2. That authority was given after massive Treasury resistance. That objection would be, inter alia, on the usual grounds that it generates little or no continuing tax revenue and is thus undesirable. By way of contrast, a new motorway generates loads of tax revenue via excise duties on road fuel. Or will until electric vehicles become popular which is some way into the future. And, of course, the Treasury is collectively aware that HST2 is merely a pretext to cover the Tory party’s wish to repay its key donor group, the UK building and civil engineering sector. Take their contributions out of the Tory party’s income and expenditure account and you will find a very large deficit.
Elected politicians can, of course, overrule the Treasury. But any reading of UK political history will bring you to the conclusion that repeatedly doing so is likely to end unhappily. The point that most politicians miss, along with many other people, is that policy grade Treasury staff are vastly more intelligent and capable than they are.