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if HS2 were to be cancelled, it's difficult to know what could be done to provide more capacity between London and Birmingham. the west coast line, expensively upgraded 10 years ago, is now full to capacity again. all the trains are full and standing. both ways. all day. every day. the limit of upgrade has been reached, only way to get more capacity out of the line would be to slow all traffic to the speed of the slowest freight services (which would mean a journey time of at least an hour more than today), or to eliminate rail freight - both of which would probably be politically unacceptable. regular users of the M1/M6 will know the amount of "smart motorway" works currently underway, the extra capacity of which will probably be exhausted from the day it's all finished.
soo. what to do..... if no HS2 - an 8-lane each way M40, anyone? doing nothing not an option.