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High-Speed Rail

That is a very fair point. It is difficult when one looks at such wildly different forecasts. One has to look at the history. Let us take demand forecasts for the rail industry. Nine out of 10 have been grossly exaggerated by at least twice. That is roughly the proportion we have between the conservative forecast and the Department for Transport's forecast today. In the case of HS1, it has only just now, after nearly a decade of some sort of operation, reached the lowest level of forecast we ever thought remotely possible. As we know, HS1 has just been sold off as a dead loss, at a loss of £3 billion.