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...Fu also noted that the C919’s production rate was still growing slowly....
...A new high-speed rail line will now only be built from London to Birmingham, with HS2’s custom-built trains shifting on to existing tracks the rest of the way to the north of England....
...The transport department said in a statement that HS2’s “governance [was] being strengthened to further increase the focus on cost control and increase government oversight”....
...In October, the Financial Times reported that the Treasury had asked HS2’s management team to identify potential cuts or “scope reductions” to the high-speed line....
...have to rise and that money for investment can be found — from the markets, from a new network of consolidated pension superfunds and from new taxes on environmental harms, which will drive a virtuous circle...
...Professor Andrew McNaughton, former chief engineer of Network Rail and subsequently HS2’s technical director between its inception and 2017, addressed the capacity issue in a transport select committee hearing...
...The poor cost management indicates a “failure of governance and oversight” at both HS2 Ltd, the arms length body running the project, and the Department for Transport, and follows years of warnings by the...
...HS2 Ltd and the Department for Transport are at pains to show the project has benefits after criticism earlier this month by a cross-party committee of MPs who said it offered “very poor value” for money...
...The carrier is also edging closer to Beijing as it forges a new identity with a home base in the so-called Greater Bay Area, an 11-city metropolis circle in southern China....
...Along with falling sales at Tesla and BYD, the world’s two biggest sellers of battery-powered vehicles, it is a sign of trouble for the crucial shift towards green transport in the 21st century....
...Sunak’s axing of HS2’s northern leg also has consequences for Northern Powerhouse Rail....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...The project is intended to transport natural gas from the Timor Sea to a terminal in Darwin in Australia’s north, before being shipped to Asia for use....
...In a statement on Wednesday, rail minister Huw Merriman said HS2’s management had increased the upper estimate for the project to £57bn in 2019 prices....
...Better regional transport links are likely to offer greater productivity benefits than long-distance links....
...HS2 Ltd, the government body running the scheme, was stripped of its responsibilities at Euston, with work on the project paused earlier this year after costs almost doubled to £4.8bn....
...Meanwhile, Gilligan argued, half of HS2’s benefits went to London and the south-east, meaning that the project’s impact on “levelling up” Britain had been exaggerated....
...Louise Haigh, Labour’s shadow transport secretary, accused the government of mismanaging the project at a huge cost to taxpayers....
...HS2’s costs do, it is true, resemble a runaway train....
...Louise Haigh, shadow transport secretary, insisted the cancellation of HS2’s northern leg was “the exact opposite of the levelling up we were promised” and a sign of “chaos” in Sunak’s government....
...According to FT calculations, HS2’s £70bn price tag is set to be revised upwards to account for inflation within months to a figure closer to £91bn....
...Ong Beng Seng, managing director of Hotel Properties Ltd, is providing information to the Corrupt Practices Investigation Bureau about his interactions with transport chief S Iswaran, the company said on...
...They wooed each other over Nick Drake songs and east-to-west nightwalks through the city, which has a vivid art scene whose inner circles they have always stayed shy of....
...But they cautioned that applying a single indice to the headline figure did not account for the differing inflation pressures on HS2’s various input costs....
...Just £2.2bn has been spent so far, according to HS2 Ltd’s update in June, some of which has gone on land, where the cost could potentially be recovered....
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