Laboured policy

Labour cannot, however, expect Britain to stand still and wait for it to finish its soul-searching. For some policy areas need certainty and commitment from opposition as well as from government and one of these is transport.

A long-term project such as high-speed rail demands long-term thinking. Transport policy, like so much else over recent decades, has suffered from parties planning no further ahead than the next election.

This is why it was so gratifying that there appeared to be cross-party consensus on the future of high-speed rail, Labour having committed itself to the idea in government and the Tory/Liberal Democrat coalition eventually following suit.

It is also why it is unacceptable now for Labour to suggest that the project may no longer be a priority. For this was the message sent out by Shadow Transport Secretary Maria Eagle and, even though leader Ed Miliband rushed to reassure investors that Labour was still committed to the idea, confusion remains.

No one is denying the parlous state of the public coffers, but this is precisely why private-sector investors are most needed. They will desert the scheme in droves, however, if they believe that a General Election is all it will take to scupper the project.

The boost to the Yorkshire and Humber region alone, from a high-speed line linking London with Leeds, would be worth £62bn. This is why it is deeply dispiriting that Labour politicians are talking once again about prioritising transport projects in the capital, such as Crossrail and Thameslink, even though London has already benefited disproportionately from transport spending in recent years.

Mr Miliband, therefore, needs to demonstrate swiftly that Labour’s support for high-speed rail is unequivocal.