Rishi Sunak faced growing anger from business leaders, politicians across the spectrum and even a major donor as he weighed whether to shorten a flagship rail project that may cost the UK £100 billion ($123 billion).
The prime minister and chancellor are locked in talks over whether to halt the Birmingham-to-Manchester leg of High Speed 2 over concerns its cost is spiraling out of control. A decision may come as early as this week before Conservatives gather for their annual conference in Manchester.
His remarks signal the Conservative Party, trailing the Labour opposition in polls, is juggling its priorities ahead of an election widely expected next year. The inheritance tax measure would appeal to the party’s wealthy backers, but the idea of further pruning HS2 touched off a broad backlash. Former Prime Minister Boris Johnson told the Times that, “it’s the height of insanity to announce all this just before a party conference in Manchester” and that Sunak shouldn’t deliver a “mutilated” HS2.
A U-turn on HS2 would follow his decision to water down rules pushing the UK toward Net-Zero fossil fuel emissions, which also triggered a backlash among Conservatives. Infrastructure has been one of the few strengths for the construction industry this year, which is reeling as homebuilders slash projects after soaring mortgage rates strained affordability for more buyers. Dropping a major part of HS2 would be a drag on the sector and the broader economy at a moment when analysts say a recession is increasingly likely.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Sunak Likely to Scrap Part of Flagship High-Speed Rail ProjectUK Prime Minister Rishi Sunak’s government is pushing ahead with plans to scrap the northern leg of a new high-speed rail link — one of Britain’s biggest infrastructure projects — even after opposition from two of his predecessors, The Times reported.
Lire la suite »
Unease grows in Punjab as Canada-India tensions deepenThe anxiety is palpable on the streets of Punjab, India's only state with a majority Sikh population, following Canada's allegations linking Indian government agents to the killing of Canadian citizen and pro-Khalistan activist Hardeep Singh Nijjar on Canadian soil.
Lire la suite »
Canada's international student program faced with 'integrity challenges,' senators say in push for reformA group of Canadian senators is proposing a series of reforms to the country's international student program that include ways of protecting newcomers from fraud and abuse, as well as greater regulations and penalties for recruiters and educational institutions.
Lire la suite »
MANDEL: No justice for 4 women who allege they're victims of serial abuserHe faced 17 charges of violent sexual assault, choking and threatening death but all were thrown out due to delay caused by the Crown
Lire la suite »
Motor racing-Hamilton says next six months are crucial for MercedesSUZUKA, Japan (Reuters) - An exhausted Lewis Hamilton wrestled his Mercedes to fifth place in the Japanese Grand Prix on Sunday and said the team faced ...
Lire la suite »
The Weather Network just unveiled its fall 2023 forecast for CanadaThe Weather Network (TWN) has released its much-awaited fall weather forecast for Canada, and it's 'two-faced' with shots of chill and wa...
Lire la suite »