Chair of PAC on HS1

This from the Public Accounts Committee...

NATIONAL AUDIT OFFICE: The completion and sale of High Speed 1

A statement from The Rt Hon Margaret Hodge MP, Chair of the Committee of Public Accounts:

I am yet to be convinced that HS1 will prove to be value for money. Yet again we hear that value for money will depend on uncertain benefits which have not been quantified. We will want the department to do all it can to realise the benefits and turn this sorry story round.

Compared to the staggering mismanagement of the West Coast Mainline upgrade, the department did relatively well with the construction of HS1. But that is damning with very faint praise indeed. It’s a sad state of affairs when it comes as no surprise that HS1 was based on dodgy assumptions and bad planning.

Don't be so coy Margaret, tell us what you really think!

HS1 flogged to the Canucks

This from Sharecast.com...

LONDON (SHARECAST) - The government has sold the right to run the high speed rail link between London and the Channel Tunnel to a Canadian consortium for £2.1bn.

The purchase of High Speed 1 gives the consortium, which comprises two Canadian pension funds, operating rights over running the line and the stations along it for 30 years.

Transport Minister Philip Hammond said the sale price ‘exceeds the highest expectations for the sale.’

He said it would help the government to reduce the deficit

Eye respectfully suggests to the Rt Hon Petrol-head that he uses this cash windfall to buy some much needed new trains for the rest of the network.

But not IEPs, obviously.

Eurotunnel to buy HS1

***FT reporting that Eurotunnel is “looking carefully” at bidding for the UK’s only dedicated high-speed rail line.***

Ford assaults Javelin - cleared for service

Congratulations to South Eastern for starting Javelin services six months early.

Whilst the official taster services won't commence until the 29th June, today saw a special run for hacks and others of the great and good.

The inaugural run from St Pancras to Ashford also saw the new class 395 fleet formally christened when the Chief Thumper, Roger Ford, undertook the traditional ceremony of "Assaulting the Interior Trim".

He pronounced himself satisfied.

Pity there are no power sockets though.

CORRECTION: This from the Major...

If The Fact Compiler hadn't been so busy elsewhere he might have noticed that the power sockets are between the seat by your knees.

Just check it's okay with the nice lady in the adjacent seat before plugging it in...

Eurotunnel to bid for HS1

***Eurotunnel expects to be a bidder for the Channel Tunnel Rail Link if, as expected, HMG puts it up for sale next year.***

See Thomson Financial story here