The Institute of Directors (IoD) has joined those calling for HS2 to be scrapped.
Demand for the HS2 high-speed rail project has "likely been overestimated" and does not offer good value, according to a new report.
The HS2 high-speed rail project has an estimated £3.3 billion funding gap which the Government has yet to decide how to fill, a report says.
The Bill that will allow HS2 to go ahead has just been published. It confirms the route will go near Wendover, Aylesbury and north of Bicester and Banbury. It gives exact details of the scheme and is 55,000 pages long.
MP's will now consider the detals of the £42 billion project and local peple will be able to raise objections.The Secretary of State for Transport, Patrick McLoughlin MP, said:
"This is a significant step forward in the Government’s strategy for a high speed rail network that will address the critical capacity constraints that we face and improve connectivity between our great cities."
The Bill includes the powers necessary to construct and operate Phase One of HS2 between London and the West Midlands. Alongside the Bill I will also be publishing several other related documents.
Today's HS2 Bill reveals full details of a massive new interchange that will benefit the Thames Valley. Built at Old Oak Common, on the Great Western line, it will connect the new HS2 scheme with Great Western services from towns like Newbury and Reading, Crossrail trains from Maidenhead.
The Heathrow Express and have a link to the Channel Tunnel. It will mean people going to Europe will be able to change trains at the new station or take a high speed service to Manchester, Liverpool or Leeds. It will be the biggest interchange in the country
'Stop HS2' campaigners will descend on Westminster today as MPs conduct the first reading of the first phase of the HS2 Hybrid Bill. It will be debated by both Houses. Campaigners will be holding a rally in the Old Palace Yard this morning from 11am.
The Transport Secretary is to face a grilling by MP's over a report that claimed HS2 would boost the UK economy by £15 billion a year. Patrick McLoughlin, as well as the report's authors, have been summoned to appear before the Commons Transport Select Committee to explain the controversial report.
Mr McLoughlin had used the report's findings to gain support for the £50 billion HS2 project. But it was later revealed while some areas would grow because of the new rail line others would lose out. He faces claims "only positive and selective elements" of the report were made public.
That's because while some areas would see investment it would be at the expense of others away from new stations on the line. For example Buckinghamshire could lose out by £100 million. The line runs through parts of Oxfordshire and Buckinghamshire.
Mr McLoughlin insisted he had "no doubt" that the scheme would benefit the UK as a whole, describing it as "vital" for the long-term health of the economy.
The comments came after previously unreleased research listed more than 50 areas that are likely to end up worse off - including Bristol, Cambridge and Aberdeen.
In September ministers hailed the KPMG report for concluding that HS2 would boost the British economy by £15 billion a year.
Mr McLouglin said: "All these investments that we are looking at is to serve the people of the UK, to make the UK a place where we attract investment.
"It's of no doubt to me that it's beneficial to the UK. We need to make sure our cities in the north are able to compete with the rest of Europe as well."
It's been reported by The Telegraph that the registration of a new battlefield site along the HS2 route could add further costs to the project.
The paper said English Heritage was listing "a previously 'lost' site" of the Battle of Edgecote fought in 1469 as part of the Wars of the Roses.
The site in Northamptonshire, six miles from Banbury, is where the nobleman Richard Neville defeated the forces of King Edward IV.The paper says it was located after research and analysis by the Battlefields Trust which was then sent to English Heritage.
– The Telegraph
Although the battlefield’s new listing does not give the area statutory protection from development, it does mean that its status must be considered in the planning process. The government’s National Planning Policy Framework says that development of historic battlefields should be ‘wholly exceptional’.
Even if the track goes ahead as planned through the area, the listing could still add to the time and cost involved – which has already spiralled to £50 billion – as it might mean work is held up for archaeological research."
The HS2 rail project has "serious shortcomings" and should be put on hold, according to a powerful Commons committee.
MPs suggested the controversial scheme should not proceed until the Government produces fresh analysis on whether it offers value for money.
The Treasury Select Committee said a "more convincing" economic case was needed for the project, which is now estimated to cost £42.6 billion, 17% higher than previous predictions.
The Government has insisted its costings are "robust" and that the link will be vital to addressing the "urgent capacity needs" on train services.
But a recent study suggested the eventual cost could climb to £80 billion and it has been branded a "grand folly" and "foolish" by critics.
The Treasury Committee has today published a report containing conclusions and recommendations from its inquiry into the 2013 Spending Round.
The report included several recommendations on the proposed HS2 rail link which would cut through Oxfordshire and Buckinghamshire.
– Andrew Tyrie MP, chairman of the Treasury Select Committee
There appear to be serious shortcomings in the current cost-benefit analysis for HS2. The economic case must be looked at again. The Bill should not proceed until this work has been done and the project has been formally reassessed by the Government. At £42.6bn, excluding a large contingency reserve, the construction cost of the project has increased by 17 per cent even before it has started."
He added: "A more convincing economic case for the project is needed. We need reassurance that it can deliver the benefits intended and that these benefits are greater than those of other transport schemes - whether in the department's project pipeline or not - which may be foregone."
The new boss behind the High Speed 2 rail link says people must get behind the project like they did the Olympics.
Sir David Higgins who's being paid £600,000-a-year in his role worked on making sure London 2012 was a success.
He says people were sceptical about the games but they turned out to be fantastic for the country.
He argues HS2, linking London and the Midlands, could be just as good and is vital for the ailing rail network. But his positive rhetoric is not convincing everyone, as As Divya Kohli reports .
The new boss behind the High Speed 2 rail link says - people must get behind the project like they did the Olympics.
Sir David Higgins who's being paid 600 thousand pounds a year in his role, worked on making sure London 2012 was a success.
He says - people were sceptical about the games but they turned out to be fantastic for the country.
He argues HS2, linking London and the Midlands, could be just as good and is vital for the ailing rail network. But As Divya Kohli reports his positive rhetoric is not convincing everyone.
It's had a rough ride from the start with opponents to the High Speed 2 rail link calling the 50 billion pound project a white elephant. And just this week a parliamentary report called for the line to be abandoned.
But today the Prime Minister launched what he called the "fightback" by the government over the scheme. Phase One of HS2 would cut through environmentally sensitive parts of the Oxfordshire and Buckinghamshire countryside linking London with the midlands.
And today a report was released claiming the project would boost Britain's economy by 15 billion pounds a year.
Mel Bloor speaks to Elaine Ainsworth, a Practice nurse at Mandeville Surgery, Rebecca Struckmyre, who has asthma, Transport Secretary Patrick Mc Loughlin MP and Transport Minister Simon Burns MP.