The ASI's latest paper, Network Fail, inspired this morning's Times leader "Money Pit: It is not inevitable that every big infrastructure project should cost billions and still soar over budget. Ministers must be held to account".
The article noted:
The most pernicious orthodoxies are those that evolve out of indifference. In Britain today it is accepted as inevitable that whenever a politician promises a new public project, the eventual cost will be far higher than the one first pledged.
HS2, the high-speed rail line, currently has a budget of £55 billion. This week, the Adam Smith Institute suggested the cost could rise to close to £80 billion. Yesterday The Times reported that the cost of renovations to the House of Commons could exceed £4 billion.
Our Head of Research, Ben Southwood, also took to our screens to discuss the paper and the soaring costs of HS2 on ITV News.