The Prime Minister says the money to pay for HS2 will need to come from 'a balance' between the Government and 'the train user' - but expensive tickets are necessary for 'Britain to be a success'. See the full interview above.
David Cameron was resolute when asked about Tory opposition to the HS2 project: "This is going to happen. I have been a strong supporter right from the start." The Prime Minister continued:
– Prime Minister David Cameron
These are difficult economic times, but I think that is precisely the time you should be planning for the future, working out how we link up the cities of our country, how we reduce journey times, how we spread wealth and prosperity around the country.
We do need to rebalance the economy, it has been too dominated by the South and by certain industries and high speed rail will really help to create a better balanced economy.
In his speech to business leaders, David Cameron is expected to acknowledge that we're living in "perilous economic times".
"Turn on the TV news and you see the return of a crisis that never really went away: Greece on the brink…the survival of the Euro in question," he is expected to add.
"Faced with this, I have a clear task: to keep Britain safe.
"Not to take the easy course - but the right course."
David Cameron will address business leaders in Manchester this morning.
He will talk about the economy - on the same day as General Motors is expected to announce good news for its Ellesmere Port plant, but also as he faces the worsening Euro crisis.
The speech is due to start at 10.15am.