George Osborne Slams HS2 Manchester Extension Axe as “Gross Vandalism”
Former Chancellor George Osborne has blasted talks of scrapping the HS2 high-speed rail link to Manchester, calling it a “gross act of vandalism” that would cause “huge economic self-harm.” The government is set to decide the fate of HS2’s northern extension this week, sparking heated debate.
In a hard-hitting op-ed for The Times, Osborne, who originally championed HS2, warned that cancelling the Manchester leg would cripple vital infrastructure and deal a major blow to the UK economy, particularly the North.
HS2 Uncertainty Fuels Northern Fury
- The UK government has refused to guarantee that HS2 will stretch beyond Birmingham to Manchester, stoking fears across Northern England.
- Manchester Mayor Andy Burnham slammed the potential cut, saying it would widen the “north-south chasm” and deepen regional divides.
- Defence Secretary Grant Shapps called for a rethink of HS2 plans amid soaring costs, saying it would be “crazy” not to reassess.
Originally planned to link London, the Midlands, and the North, HS2’s first phase from London to Birmingham is under construction but hit by delays and budget blowouts. The eastern leg to Leeds has already been scaled back, and now Manchester looks shaky.
The potential cancellation raises questions about the government’s promise to invest in Northern infrastructure—a pledge crucial to winning votes in recent elections.
Aldi Shines Amid Cost-of-Living Crisis
Meanwhile, Aldi boss Giles Hurley revealed how shoppers are turning to budget supermarket own-labels to save cash during the ongoing cost-of-living crunch.
- Aldi recently overtook Morrisons to become the UK’s fourth-largest supermarket.
- Own-label products now make up over half of consumer purchases by value, growing twice as fast as branded goods.
- Hurley said this shift looks set to continue, benefiting Aldi’s bottom line.
- For the year ending December 2022, Aldi’s UK sales surged to £15.5 billion, with operating profits nearly tripling to £178.7 million.
New Brexit EV Rules Could Cost Billions
New Brexit trade rules for electric vehicles threaten a £3.75 billion hit to European automakers, according to the European Automobile Manufacturers Association (ACEA). Starting January, EVs must use UK- or EU-made batteries to avoid a 10% tariff crossing the Channel.
ACEA warned these “rules of origin” could slash EU factory EV output by 480,000 vehicles and hike costs for buyers.
Entain Braces for Gambling Clampdown
Ladbrokes owner Entain has hit trouble after the government proposed tougher regulations to tackle problem gambling, including online stake limits and affordability checks.
The gambling giant expects a drop in online gaming revenue for the third quarter and full year amid regulatory headwinds and poor sports results.
