(Bloomberg) -- 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).Most Read from BloombergChinese Gold Buying Is Driving a Paradigm Shift in BullionWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundUS to Keep a Distance From India-Canada Dispute, Signum’s Myers SaysBond Market Faces Quandary After Fed Signals It’s Almost
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.
Ten university vice chancellors including those in Warwick and Coventry urged Sunak to press ahead with HS2 in full, saying it will “allow our universities to continue to drive the transformation of the regional economy,” the Financial Times reported. The government is concerned that inflation is jacking up the costs of HS2. It’s already spent £24.7 billion on HS2 as of June, with a total budget for the first phase of the project from London to Birmingham of as much as £45 billion. Beyond that the numbers are more opaque. The official cost of the whole project is £71 billion — though the government’s own review said it could exceed £100 billion.
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.
Anger Grows as Sunak Weighs Shortening £100 Billion UK Rail LinkRishi 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).
Lire la suite »
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 »
KKR-Backed BrightSpring Is Said to Revive IPO Seeking $1 BillionBrightSpring Health Services Inc., which withdrew its initial public offering plan last year, has confidentially refiled for a listing with a goal of raising $1 billion, according to people familiar with the matter.
Lire la suite »
Statistics Canada reports retail sales up 0.3 per cent at $66.1 billion in JulyStatistics Canada said retail sales jumped 0.3 per cent to $66.1 billion in July as sales at food and beverage retailers surged 1.3 per cent for the month.
Lire la suite »
Even China's 1.4 billion population can't fill all its vacant homesBEIJING (Reuters) - Even China's population of 1.4 billion would not be enough to fill all the empty apartments littered across the country, a former ...
Lire la suite »
Wells Fargo Preps for Wealth Battle After $1 Billion TurnaroundThree years and nearly $1 billion later, Wells Fargo & Co. is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management.
Lire la suite »