Mmm. To be honest, I'd be tempted to postpone high speed for the time being and protect some capacity enhancements on the classic network instead.
It won't start costing us for a while yet, maybe crossrail is the best thing to postpone.
But really, infrastructure improvements are the top priority for me in terms of spending. If the country cannot move, it cannot prosper.
I am sure that the capacity enhancements will still continue but really, that has to be achieved by running longer trains and building longer platforms.
make do and fix for the rail network is the single most profilgate way of running a railway.
Ringfence the HSR money, cut NR waste and middle management, continue with everything that has been happening (apart from some station improvements which have already been scrapped) But really, do we all really need a brand spanking new station?
Look at the new building at Rugby, It looks 50 years old already on the outside. Shocking choice of cheap materials. Identikit stations? no thanks