Business and finance 27 August 2013 HS2? "One grand folly" Business quote of the day. Sign UpGet the New Statesman's Morning Call email. Sign-up 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. › What ever happened to Martin Luther King's dream? The Institute of Directors (IoD) has called for HS2 to be scrapped. Photograph: Getty Images Subscribe For daily analysis & more political coverage from Westminster and beyond subscribe for just £1 per month!