Labour could use HS2 as an opportunity to show voters that it is fiscally responsible by announcing that as the project’s costs have spiralled out of control, it cannot back it. So runs the argument in favour of Ed Miliband dropping his party’s support for the project. The party’s transport shadow Maria Eagle has insisted today that high-speed rail remains a manifesto commitment for Labour, but Ed Balls has appeared on BBC News to drop what many are reading as some fairly heavy hints that his own support isn’t quite so rock-solid.
Here is the transcript of what he said:
'We have consistently supported plans for a new north-south rail link, but it's got to work, it has got to be value for money.
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