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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New Digital Editor: Serena Kutchinsky

The New Statesman appoints Serena Kutchinsky as Digital Editor.

Serena Kutchinsky is to join the New Statesman as digital editor in September. She will lead the expansion of the New Statesman across a variety of digital platforms.

Serena has over a decade of experience working in digital media and is currently the digital editor of Newsweek Europe. Since she joined the title, traffic to the website has increased by almost 250 per cent. Previously, Serena was the digital editor of Prospect magazine and also the assistant digital editor of the Sunday Times - part of the team which launched the Sunday Times website and tablet editions.

Jason Cowley, New Statesman editor, said: “Serena joins us at a great time for the New Statesman, and, building on the excellent work of recent years, she has just the skills and experience we need to help lead the next stage of our expansion as a print-digital hybrid.”

Serena Kutchinsky said: “I am delighted to be joining the New Statesman team and to have the opportunity to drive forward its digital strategy. The website is already established as the home of free-thinking journalism online in the UK and I look forward to leading our expansion and growing the global readership of this historic title.

In June, the New Statesman website recorded record traffic figures when more than four million unique users read more than 27 million pages. The circulation of the weekly magazine is growing steadily and now stands at 33,400, the highest it has been since the early 1980s.