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HS2? "One grand folly"

Business quote of the day.

The Institute of Directors (IoD) has called for HS2 to be scrapped. Photograph: Getty Images

The Institute of Directors (IoD) has called for HS2 to be scrapped. A survey of its members found little enthusiasm for the £50bn high-speed rail project.
 
"We agree with the need for key infrastructure spending, but the business case for HS2 simply is not there. It is time for the government to look at a thousand smaller projects instead of falling for one grand folly," said the IoD's director general, Simon Walker.