It has just been announced that the Midland Main Line and Trans-Pennine electrifications have been shelved due to rising costs and the need to cut back. It was inevitable that HS2 would put financial pressure on other rail investment and so it has turned out. In a rational world, the electrification of the Midland, and reopening of the direct line to Manchester, would be a priority The other drain on finance is the Inter City Express or Incredibly Costly Express, Britain's most expensive train ever, which is replacing stock which is good for another 20 years. The replacement for the 1980s Pacers will also end up being a money gobbler. It is unlikely that the new trains will cost less than £2 million a vehicle. It is worth getting this in proportion. In 1955, a new railway carriage cost £5000 - around £250,000 after allowing for inflation, but let us double it for luck and allow £500,000. Of course the 1955 design would not be acceptable today. It would need retention toilets, thoug...