There is no indication that it will, the government has refused to include the route north of Birmingham in the Bill that it has to put before Parliament before the high speed rail can start.
If this is the way they do it, then any MP with even the most
basic of calculators has to vote to
reject the scheme. If you take out the more dubious "WEIs" (benefits based on secondary benefits, a lot of which is time savings on the highly flawed assumption that no-one works on the train -
ever), then with the latest economic forecasts, the government will get 90p back for every £1 it puts in. What sort of case is that?
Ironically, the case for the second part looks a great deal better, as I'm sure the extension to Scotland would, but you have to assess a project on its own merits as it stands, and this one is one hulking great #fail.
Meanwhile, they get the runway for "free" - if they want to be seen providing a major infrastructure stimulus, better to take the dirty airport project than the "clean" train, which has actually just stashed the pollution problems it creates to the power stations on the Trent.