Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Bosses warn Sunak scaling back HS2 will hurt the UK

by September 24, 2023
September 24, 2023
Bosses warn Sunak scaling back HS2 will hurt the UK

A coalition of industrial leaders has launched a last-ditch effort to implore Rishi Sunak not to scale back the HS2 rail line, warning that “constant changes” to the project were damaging Britain’s reputation among overseas investors.

The chief executives of China-owned British Steel, American engineering firm Aecom and family-owned construction company Keltbray are among scores of bosses who have written to the prime minister to advise him of the repercussions of scrapping the second leg of HS2 linking Birmingham and Manchester.

Andy Street, the mayor of the West Midlands, said separately that Sunak was poised to create “the most expensive white elephant in UK history” by reducing the scope of the project.

The prime minister is widely expected to scrap the building of HS2 beyond Birmingham this week before the Conservative Party conference that starts next weekend in Manchester.

Representatives from Heathrow, Siemens, Mace and Skanska are among nearly two dozen leaders urging the prime minister to rethink his plans. They tell Sunak that the prospect of backtracking on previous commitments to build the line at least as far as Manchester is “deeply alarming”.

Signatories of the letter say: “It is a particular blow to the 30,000 people working to deliver this vital infrastructure each and every day, and the many thousands of businesses in the northwest who are currently investing in the area based on HS2 reaching Manchester.”

Tory MPs urge Rishi Sunak to back northern HS2

The expected U-turn on HS2 comes just days after Sunak announced a reversal of Boris Johnson’s green agenda by pushing back a ban on the sale of new petrol and diesel cars from 2030 to 2035.

The group warns the prime minister: “Perhaps most important of all from a business perspective, these constant changes to a flagship infrastructure project add to the perceived risk of the UK as a place to do business, as well as adding to the cost of each and every infrastructure project in the future.

“At a time when we need to compete globally harder than ever, and we need to deliver infrastructure more efficiently than in the past, we cannot overstate how harmful this is.”

The putative axing of high-speed services to Manchester could come alongside a final decision to scrap plans for a London terminus at Euston. Services would run between Birmingham and Old Oak Common, seven miles from central London, instead.

Sunak’s decision has incensed Street, who is an important political ally. He has written to regional business leaders to pressure Sunak to change his mind.

Read more:
Bosses warn Sunak scaling back HS2 will hurt the UK

0
FacebookTwitterGoogle +Pinterest
previous post
Jeremy Hunt calls for London to be the place tech companies choose to raise capital
next post
Business tycoon, John Caudwell, withdraws support for Sunak over ‘net zero madness’

You may also like

Amazon’s Profits Surge in Q1 2024, Driven by...

May 1, 2024

Inheritance tax hits record £8.2bn as frozen thresholds...

April 24, 2025

Return to offices ‘will not increase’

November 18, 2022

UK signs financial deal with Switzerland

December 21, 2023

Gresham House Ventures backs Penfold with £3.9m to...

May 22, 2025

Cryptocurrency Payment Methods in Online Casinos: Benefits and...

May 26, 2023

UK food and drink sector sounds alarm over...

August 26, 2022

Two-thirds of UK workers with long Covid have...

March 27, 2023

Canary Wharf: Adapting to a Changing Landscape

August 11, 2023

Benefits of Online Gaming Research – Industry Trends...

October 8, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • DAVID MARCUS: Zany Zohran endorsement is existential choice for Hakeem Jeffries

      July 26, 2025
    • FTC firings take spotlight in Trump’s fight to erase independence of agencies

      July 26, 2025
    • DNI Tulsi Gabbard declassified Trump-Russia docs: Here’s what they say

      July 26, 2025
    • Trump signs rescissions package, closes out week with trip to Scotland

      July 26, 2025
    • CHARLIE KIRK: Republicans must seize Gen Z moment or risk losing an entire generation

      July 26, 2025
    • Technology in Hospitality: Innovations Shaping Guest Experiences

      July 26, 2025

    Categories

    • Business (8,580)
    • Investing (2,151)
    • Politics (16,208)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved