The UK government is launching a review into the new high-speed rail link, HS2, where there will be a “go or no-go” decision made before the end of 2019.
The project was due to be a way of connecting the midlands and the north with the capital through a train with speeds of us to 250mph.
Despite billions already being spent, the project may now be scrapped.
Transport Secretary Grant Shapps commented: “Just because you’ve spent a lot of money on something does not mean you should plough more and more money into it.”
Responding to the announcement that the High Speed 2 (HS2) rail project will be subject to a government review, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said: “For the good of UK small firms and the economy as a whole, it’s vital that the HS2 project remains on track. The stop-start approach to major transport investment that’s held our economy back for decades has to end.
“Of course HS2 needs to represent value for money, and that starts with responsible procurement – bringing smaller firms into the supply chain wherever possible and paying them on time.
“HS2 should be seized by this government as an opportunity to back the small businesses that it so often claims to support, opening doors for them and setting the tone for future infrastructure projects. It would do well to remember that small firms bring a dynamism to supply chains that big corporates struggle to match.
“Wider job creation, inward investment and transport projects across the north of England and Midlands hinge on HS2’s completion. This project is not simply a nice to have. Done right, it will lay the foundations for a truly balanced UK economy.”