Bin HS2 Now, Jacob Rees-Mogg Says

7 January 2019, 10:07

Jacob Rees-Mogg urges the government to scrap the controversial HS2 rail line before spending a further £98bn on it.

Speaking to Nick Ferrari in the first Ring Rees-Mogg of 2019, the Tory backbencher said that he thought "binning HS2 is an easy save"

"Any sensible government would want to save this ridiculous amount of money," he said.

"We mustn't be led astray by the sunk cost fallacy, that is to say we've already spent £2bn on it but that it would be better to stop now than to plough ahead and spend £98bn badly because we've already spent a couple of billion."

HS2 rail will link London to the North of England via Birmingham in new high speed lines
The controversial HS2 rail will link London to the North of England via Birmingham in new high speed lines. Picture: Getty

His comments follow Liz Truss' suggestion that the controversial high speed rail line could be scrapped to save costs.

The Treasury Minister said that the government must be prepared to pull the plug on big projects that are hit by spiralling costs.

In December last year Sir Terry Morgan resigned as chairman of HS2 Ltd and Crossrail Ltd amid delays and the expectation the high-speed railway will exceed its budget.

More Nick Ferrari

See more More Nick Ferrari

Nick Ferrari gobsmacked after caller says he has had seven bikes stolen.

Nick Ferrari gobsmacked at how caller has had seven bikes stolen

LBC's Reporter Charlotte Lynch took a dip off the Cornish Coast

Nick Ferrari's 'swimming in shark infested waters' reporter challenge

Jacob Rees-Mogg said civil servants had been offered a course on witchcraft

Courses on Check Yo Privilege and witchcraft for civil servants are a waste of time, says JRM

The Defence Secretary was speaking to Nick Ferrari

Ben Wallace accuses Rishi Suank of trying to block extra cash for defence spending

Ben Wallace is backing Liz Truss

'Feisty' Truss is my choice for PM, says Ben Wallace as he reveals endorsement

Tory party co-chair looks ahead to LBC leadership hustings with Nick Ferrari

Tory party co-chairman looks ahead to LBC leadership hustings with Nick Ferrari

'Totally invented tosh': Nadine Dorries dismisses claims she'd give up her constituency seat for Boris

'Totally invented tosh': Nadine Dorries dismisses claims she'd give up seat for Boris

Sunak is 'opposed to transparency' over police league table plans, says minister

Sunak is 'opposed to transparency' over police league table plans, says minister

Exclusive
'Do you want him evicted?': Mick Lynch defends RMT deputy living in council flat on £78k

'Do you want him evicted?': Mick Lynch defends RMT deputy living in council flat on £78k

Exclusive
Social workers 'showed no interest' in tragic Lily-Mai case, grandfather tells LBC

Social workers showed 'no interest' in tragic Lily-Mai case, grandfather tells LBC

A furious Nick Ferrari summed up the issue

Nick Ferrari slams 'sanctimonious' BBC over Princess Diana interview

Nick Ferrari mocks Prince Harry after UN speech

Nick Ferrari mocks Prince Harry after UN speech - 'Buy the bloke a Peroni!'

Mordant 'spent months' preparing for Tory leadership campaign

Mordaunt 'left other ministers to pick up the pieces as she planned leadership bid'

Heat warnings 'the erosion of our freedoms', Tory MP fumes

Heat warnings 'the erosion of our freedoms', Tory MP fumes

Boy punished for wearing shorts would've held skirt protest to stay in school, says dad

Boy punished for wearing shorts would've held skirt protest to stay in school, says dad

Lord Rose said he is backing Rishi Sunak

Tories have gone too far to the right - I'm backing Sunak, says Lord Stuart Rose