Balfour Beatty ‘unaffected’ by HS2 setbacks in optimistic trading update December 7, 2023 Balfour Beatty is forecasting higher annual revenue, driven by strong HS2 volumes in the UK and increased major airport activity in Hong Kong.
HS2: Reports of whistleblower allegations ‘a disgrace,’ says interim boss November 16, 2023 Reports of whistleblower allegations of a multi-billion pound cover-up of HS2’s soaring costs are “a disgrace,” HS2 interim chief has said.
Philip Hammond ‘dismayed’ by Tory shift to ‘populism’ October 18, 2023 Lord Philip Hammond said he has been “dismayed” by the “populist turn” the Conservatives took. The former Chancellor told CityAM while he thought the party was now “heading in the right direction” he had been “dismayed by the populist turn” the Tories took. During an interview about his role as chair of crypto firm [...]
The City sees the Tories as a ‘bigger risk to business’, says Reynolds October 8, 2023 The Conservative Party is seen by many people in the City “as the bigger risk to the business community”, Labour’s Jonathan Reynolds told CityAM
Cancelling HS2 contracts to cost hundreds of millions of pounds October 5, 2023 Paying off contracts previously awarded for cancelled HS2 sections will cost hundreds of millions of pounds, Transport Secretary Mark Harper has indicated. He told BBC Breakfast that the cost of pulling out of the agreements will “broadly balance out” with money recovered from selling land and property acquired for the high-speed railway. HS2 Ltd figures [...]
HS2’s northern leg scrapped: What’s being planned instead – and has London been snubbed? October 5, 2023 It seemed unthinkable not long ago, but Rishi Sunak scrapped the Manchester leg of HS2 – and said it will be replaced by hundreds of new projects. The scrapping means everything past the London to Birmingham leg, which is already under construction, will be torched, with the PM citing ballooning costs for pulling the plug. [...]
Mark Harper: Transport secretary ‘proud’ of decision to axe Manchester leg of HS2 October 5, 2023 Transport Secretary Mark Harper said he was “proud” of the decision to cut HS2 north of Birmingham as he shrugged off criticism from Tory former premier David Cameron and ex-chancellor George Osborne. Prime Minister Rishi Sunak used his speech at the Conservative Party conference on Wednesday to confirm he has axed Phases 2a and 2b [...]
Sunak faces backlash from Johnson and Cameron over HS2 axing – as he’s reported to the police in Scotland October 5, 2023 Rishi Sunak has faced criticism from his predecessors in Number 10 for losing a “once-in-a-generation opportunity” by cancelling the northern leg of HS2. The Prime Minister defied senior Tories and business leaders to scrap HS2 from Birmingham to Manchester saying “the facts have changed” and the cost of the high-speed rail scheme had “more than [...]
Scrapping HS2 was a smart move – now bring on more bold action October 5, 2023 Structural reforms are one thing: cultural shifts are altogether more difficult. Many a football manager has learnt this over the years, where a formation change and a sprinkling of new talent in an under-performing club fails to make a difference because something in the club isn’t right. Creating winning cultures is hard. City bigwigs are [...]
Sunak strips HS2 bosses of London Euston responsibility: ‘There must be accountability for mistakes made’ October 4, 2023 HS2 Ltd has been stripped of responsibility for Euston station as there “must be some accountability for the mistakes made”, Prime Minister Rishi Sunak said. Rishi Sunak used his speech at the Conservative Party conference to confirm that the high-speed railway will reach the central London station after developing a plan that will generate cost [...]