The Prime Minister announced on Wednesday that the HS2 project from Birmingham to Manchester has been axed as costs had “more than doubled.”
Speaking at the Conservative Party conference in Manchester Sunak told delegates, “I say to those who backed the project in the first place, the facts have changed.
“And the right thing to do when the facts change is to have the courage to change direction.”
Sunak added, “I am ending this long-running saga. I am cancelling the rest of the HS2 project and in its place, we will reinvest every single penny, £36 billion, in hundreds of new transport projects in the North and the Midlands, across the country.
“This means £36 billion of investment in the projects that will make a real difference across our nation.”
The Prime Minister said the scheme will now run to Euston instead of terminating at Old Oak Common and will save £6.5 billion and pledged the government will get a firm grip on spending of the project.
“The management of HS2 will no longer be responsible for the Euston site,” Sunak said.
“There must be some accountability for the mistakes made, for the mismanagement of this project.
“We will instead create a new Euston development zone building thousands of new homes for the next generation of homeowners, new business opportunities and a station that delivers the capacity we need.”