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Cost of HS2
THE HS2 train route proposed by 2020 is being fervently supported by the Transport Secretary.
This project will be brought forth in several stages, eventually providing a very fast service between major cities and London at the cost of about £43 billion.
The supposition is that about £15 billion pounds annually will be generated into the national economy; many travelling hours will be saved by business persons, etc. It is anticipated rail freight will be very much increased with subsequent revenue increase.
In the financial year 2011/12, private rail companies paid £1,105 million to the government for their franchise; the government paid the same companies subsidies towards fares of £1,155 million. So the railways cost our public purse £55 million. Similar figures apply for any year.
Those who support this ambitious scheme fail to mention, or prefer to forget, that there never has been a railway service of any kind which earned sufficient revenue to cover the running costs.
It follows that the same situation is most probable if or when the HS2 becomes a reality. Also the billions of pounds spent will likely be from loans to be paid back to investors in the following years.
J Beisly, Osprey Close, York.
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