The ever-increasing cost of HS2 is proof that there are significant issues with financial management in the UK and that it also affects further investment in infrastructure, a claim made by Rob Whitemane, the Chief Executive of the Chartered Institute of Public Finance & Accountancy.
While HS2 is supposedly a new chapter in the future of the UK transport system it is also a hindrance in the way that the cost has spiralled out of control. This proves that the government needs to take a change in its approach to infrastructure.
As a result, it is believed that the government should focus on the outcome instead of delivery at the lowest possible price. As a result, HS2 is a clear example of the management issues that are causing problems in investment. Along with this, the Chancellor has also said that the Budget will bring with it a turning point in relation to spending on public service. Therefore, it is not about short-term injections of cash but more about the way in which the government evaluates infrastructure investment and manages it.