Osborne: No further spending on £50bn HS2

George Osborne welcomed David Higgins' recommendations for HS2 but warned there will be "no increases" on the £50 billion project. The boss of HS2 challenged politicians to pave the way for a faster building of the high-speed line to reduce spending.

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Sir David Higgins: HS2 'vital for the future' of UK

HS2 boss Sir David Higgins has said the project was "vital for the future of the country".He added: "The cost and impact have to be recognised and acknowledged, but so too do the cost and impact of doing nothing.

Sir David Higgins. Credit: John Stillwell/PA Wire/Press Association Images

"Without HS2, the people of this country will continue to face the failures of our transport system on a daily basis.

"This contingency has pushed the price of phase one, from London to Birmingham, up to £21.4 billion with £3 billion for the trains, while the cost of the second phase, taking the line in a Y-shape to north west and north east England is put at £21.2 billion with around £4.5 billion for the trains."

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