The case for Labour to pledge to scrap HS2 is growing

A promise to cancel the project, which could cost up to £80bn, and invest the savings in more electorally popular policies is just the kind of gamechanger that Miliband needs for the conference season.

Today's Institute of Economic Affairs report suggesting that the cost of High Speed 2 could reach £80bn (it was officially revised up from £30bn to £42.6bn last month) will strengthen the hand of the growing number in Labour who argue that the party should come out against the project. Peter Mandelson (who described it as an "expensive mistake") and John Prescott have both urged Ed Miliband to do so and Alistair Darling (a self-declared "HS2 sceptic") has warned that an "awful lot of things" are wrong with it.

Ed Balls, who recently remarked, "We need to keep a close eye on value for money. I am concerned about the rising costs", is sympathetic to their position. A pledge to cancel HS2 would free up billions for more electorally popular policies (such as a mass house building programme) and reduce the need for higher borrowing and tax rises. It would also split the Tories down the middle, ending what has become a sustained period of Conservative unity.

But Ed Miliband remains personally supportive of the project and HS2 evangelist Andrew Adonis, the party's shadow infrastructure minister, who Miliband recently appointed to lead a growth review, is also determined to prevent any backsliding. However, with his recent pledge to remove winter fuel payments from wealthy pensioners and to introduce an opt-in system for trade union funding, Miliband has shown that he is willing to revise long-standing positions when political conditions demand it. A promise to cancel HS2 and invest the savings in more valuable projects is just the kind of gamechanger that he needs for the conference season.

A placard placed by the Stop HS2 Campaign sits in a hedegrow near to the planned location of the new high speed rail link in Knutsford. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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Donald Trump vs Barack Obama: How the inauguration speeches compared

We compared the two presidents on trade, foreign affairs and climate change – so you (really, really) don't have to.

After watching Donald Trump's inaugural address, what better way to get rid of the last few dregs of hope than by comparing what he said with Barack Obama's address from 2009? 

Both thanked the previous President, with Trump calling the Obamas "magnificent", and pledged to reform Washington, but the comparison ended there. 

Here is what each of them said: 

On American jobs

Obama:

The state of our economy calls for action, bold and swift.  And we will act, not only to create new jobs, but to lay a new foundation for growth.  We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.  We'll restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost.  We will harness the sun and the winds and the soil to fuel our cars and run our factories.  And we will transform our schools and colleges and universities to meet the demands of a new age.

Trump:

For many decades we've enriched foreign industry at the expense of American industry, subsidized the armies of other countries while allowing for the very sad depletion of our military.

One by one, the factories shuttered and left our shores with not even a thought about the millions and millions of American workers that were left behind.

Obama had a plan for growth. Trump just blames the rest of the world...

On global warming

Obama:

With old friends and former foes, we'll work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.

Trump:

On the Middle East:

Obama:

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West, know that your people will judge you on what you can build, not what you destroy. 

Trump:

We will re-enforce old alliances and form new ones and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the earth.

On “greatness”

Obama:

In reaffirming the greatness of our nation we understand that greatness is never a given. It must be earned.

Trump:

America will start winning again, winning like never before.

 

On trade

Obama:

This is the journey we continue today.  We remain the most prosperous, powerful nation on Earth.  Our workers are no less productive than when this crisis began.  Our minds are no less inventive, our goods and services no less needed than they were last week, or last month, or last year.  Our capacity remains undiminished.  

Trump:

We must protect our borders from the ravages of other countries making our product, stealing our companies and destroying our jobs.

Protection will lead to great prosperity and strength. I will fight for you with every breath in my body, and I will never ever let you down.

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland