THE Government has yet to make a convincing case as to why the £50 billion HS2 high-speed rail project is necessary, a highly critical report by a House of Lords committee has said.

There are less-expensive options than HS2 for solving overcrowding on the railways but these have not been properly reviewed, the Lords Economic Affairs Committee said.

HS2 was supposed to rebalance the economy but it is London rather than the Midlands or the North that is likely to be the biggest beneficiary from HS2, the peers said.

The first phase of HS2, from London to Birmingham, is due to open in 2026, with a second Y-shaped phase to Manchester and Leeds, including parts of the Selby district, due for completion around 2032-33.

However, this date might be brought forward.

In its report, the committee said there was a strong case for improving the trans-Pennine links (the so-called HS3 option) or building the second phase of HS2 first.

Both of these options would be a better way of rebalancing the economy than constructing the London-Birmingham phase.

The peers also said that cutting the speed of the HS2 trains from 250mph to 200mph would reduce the cost, as would terminating the southern end of the line at Old Oak Common in north west London rather than at Euston.

Another way of completing the project for less money would be to learn lessons from France to reduce the cost of construction, the committee said.

The report also said that HS2’s cost-benefit analysis relied on “out of date and unconvincing” evidence, some dating back to 1994. The peers called on the Government to make a convincing case for the project.