It's very difficult to understand what the base case completion dates are/were, and what this new delay therefore entails.
Before today, I understood the plan was:
- Phase 1 (OOC - Birmingham and Lichfield spur), including running to Manchester/Liverpool/Glasgow via the WCML, to be delivered between 2029 and 2033
- Euston and Phase 2a (Lichfield to Crewe), also to be delivered before 2033
- Phase 2b and Manchester HS2 stations to be delivered by approximately 2040, but not the Golbourne spur
- HS2 to East Midlands to be delivered after 2040 (if at all.....)
After today, perhaps the plan is something like this?
- Phase 1 (OOC - Birmingham and Lichfield spur) to be delivered between 2029 and 2033 (no change)
- Euston and Phase 2a (Lichfield to Crewe) to be delivered by approximately 2035
- Phase 2b and the Midlands leg unchanged
Indeed it is difficult. However I think "alongside" means side-by-side, at the same time, so
– Phase 1 OOC - Birmingham Curzon Street to be delivered "early 2030s" (no change)
– What's happening with the Handsacre link to the WCML is unclear (though I would think it's still part of Phase 1, despite the change in wording in the progress update)
– Phase 2a Brum to Crewe is being "replanned" and will certainly be delayed beyond 2033
– Phase 2b/Manchester, HS2 East/the Midlands leg,
and Euston to be delivered after 2040, the last one as previously rumoured.
Really it means this government is committing to OOC-Curzon Street, and the next government will decide whether to proceed, if at all, with the rest of it.
Value to the economy doesn't pay it back, they want cash.
Borrowing too much is robbing future generations - they have to pay it back or refinance it.
Public investment delivers economic growth which pays for the public investment through higher tax returns. For whatever reason, governments since 2010 have turned away from this, while at the same time making private investment harder.