Stop HS2... says Treasury chief who signed it off

THE HS2 rail line should be scrapped for being too costly, says the former Treasury chief who first signed off its funding.

Lord Macpherson claims the economic benefits of the £56billion project were unlikely to match its rising costs.

The future of the high-speed line is already under threat with Treasury officials carrying out an audit of major projects amid reports its budget has spiralled to £64billion. Downing Street has insisted it will go ahead.

Lord Macpherson, ex-Treasury permanent secretary, said HS2 would now fail a ‘rigorous cost-benefit analysis’. He added: ‘HS2 has always had a low economic return. And it is based on technology which ... is likely to look a little obsolete when it is on stream in the 2030s.’

The first leg of the line, from London to Birmingham, has been approved by Parliament, but the next stage to Manchester and Leeds has yet to be signed off.

HS2 Ltd said the line would ‘generate around £92billion in benefits to the UK’.