Osborne criticized the cancellation of the HS2 northern arm as "infrastructure vandalism" and emphasized the need for high-speed connections to avoid isolating the Midlands.
More than 20 leaders stressed that without HS2 light, the Midlands risks being cut off entirely, highlighting the economic stagnation this would bring to the region.
The proposed HS2 light, traveling at 186mph, provides a faster alternative to existing lines and is projected to be 40% cheaper than originally planned HS2.
The business leaders' letter asserts HS2 light could generate up to £70 billion in economic growth and calls for immediate discussions to develop a feasibility study.
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