Wednesday, 28 August 2013

Midlands TUC describes IoD's HS2 positon as "the grandest folly of all"

Commenting on the Institute of Director's description of HS2 as a grand folly, Midlands TUC Regional Secretary, Rob Johnston commented:

"It was disheartening to see that the Institute of Directors yesterday dismissed HS2 as a 'grand folly.' However, I can understand why people may be seduced by the seemingly attractive decision to "save" £50bn by scrapping HS2. At a time when cuts dramatically impacting upon public services and the public facing the strongest squeeze on living standards, it is understandable that people can look at the £50bn project and identify an easy way to plaster over the cracks in other areas of public expenditure that are being squeezed.  

"However, to raid the HS2 budget would be the grandest folly of all. It would be yet another example of short sightedness that has crippled the UK economy for far too long. HS2 represents medium term investment that secures long term, sustainable economic returns. And let us look at some of the projections: 400,000 jobs as a result of HS2, with 20,000 construction jobs for 15 years and a boost to economic performance that means the cost of HS2 would be recovered in just two years.

"The benefits to the Midlands regional economy are clear with the transformational benefits potentially profound. That is why supporters of HS2 must keep banging the drum and pointing out the benefits for our economy and the opportunities HS2 will bring for the people who live here.

"Despite the IoD’s comments, it was great to see that the Birmingham Chamber of Commerce have today come out so strongly in support. What is clear is that there is industrial support for HS2 here in the Midlands - and that speaks volumes. Business and union leaders here in the region know that we need HS2.

"Let us not be distracted. Let us secure jobs and growth and grasp this moment of opportunity, reject short termism and not squander this inheritance and commit, what would be, the truly grandest folly of all."

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