Economists: Brit high speed rail scheme costs will be 2X projections

I know, its a real shocker that proponents of these schemes might grossly low-ball their actual costs.

The study by the Institute of Economic Affairs warns the scheme’s cost has been dramatically underestimated and says it “defies economic logic”.

It will bluntly call for it to be cancelled and will suggest ministers are pursing the project to “buy votes” in Labour’s northern heartlands.

The verdict of the report is the latest blow to the troubled scheme and comes after the Department for Transport admitted its own official estimate of the cost was wrong...

In other completely unrelated news, a BBC Australia correspondent is making a move to New York to become their NY/UN correspondent.

His "goodby Australia" and "hello NY" columns are worth a read. This is a "full Weiner" thread -- let it all hang out.

posted by Purp at 05:34 PM

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