I know most members of the forum we would love to have HS2 built, but think about it from jo public point of view. Is it a priority for more capacity on the West Coast Main line? They are certainly not bothered about a 20min faster journey Birmingham to London. The country feels poorer. 1 in 7 are stuck on NHS waiting lists. Most people I talk to want public money spent on NHS, Schools, Police, Pot holes, and local transport So I have to say its a vote winner to cancel the parts of the route that has been started. If politicians ask the public, they will want to cancel as much as the project as possible to get votes. I wonder if the cabinet is being briefed that the project is not a vote winner.
So I am not arguing weather the project should be built or its different because its capital spending but I can understand why politicians are having jitters about the project as the election looms.
The problem is (although again few probably understand this) you can't swap between capital expenditure and operating expenditure.
Let's take for example the NHS and assume that we were at the point of spending £100bn on RP6 (railway project 6).
Some would argue that we should spend that £100bn in the NHS, even if you could, then it's going to have to be spread over a timeframe. As otherwise you'll end up spending more than the £100bn (for example, £100bn every year going forwards would be £1trilluon in 10 years time).
Therefore over what timeframe. Over a short time (say) 10 years, you've then got to cut services in year 11 by £10bn to revert to the current funding package (which isn't likely long enough to be sure that those voting for you will actually benefit from the extra funding).
Over a long time (say) 40 years then the extra £2.5bn is so small that it's not likely to make much of a difference (at least not on the NHS where there's already £181.7bn a year being spent).
Also, given the recent fuss the government made about rebuilding 50 schools a year, when the reality is that at rate of rebuilding it would take 440 years to rebuild every school in the UK (to put that in perspective Queen Elizabeth I was on the throne 440 years ago) which is much longer than the design life of buildings (yes there's buildings that old, and older, but they are the exception rather than what is expected).
I, personally, would be very cautious about trusting the current government on anything they promised. I don't expect that I'm alone (although how many I don't know), so it may not be that clear cut.
Of course if the expected announcement on the removal of inheritance tax comes about (only paid in about 5% of estates) then I really don't know how to justify that whilst cutting HS2 due to costs.