The UK government has revealed the planned route of the second stage of the proposed high speed rail link from London to the north of England. Lex’s Stuart Kirk and Oliver Ralph discuss who’ll invest in a project where any returns would be a long way off.
There is something curious in the way that several key transport decisions were left out of the CSR on Wednesday. The four missing announcements were: the big order for Intercity Express trains from the Hitachi-led Agility consortium, the electrification of the Great Western line, another order for about a thousand train carriages and the Thameslink upgrade.
Sources in the Department for Transport insist that these interconnected upgrades are genuinely going to the wire. They depend, for example, on Agility’s ability to reduce its original £7.5bn cost by a significant margin. Read more