Vince Cable: Case for HS2 still to be made The comments were seized on by campaigners against the project. Cheryl Gillan MP, a former Coalition Cabinet minister and campaigner against HS2, told The Daily Telegraph: "I am pleased that there are more people around the Cabinet table who are asking about this project. Lots of people are seeing the detail of HS2 and they are beginning to see that this is not a good value for money project. People are going to be asking if this is worthwhile and whether there are better ways to do business for people around the country. Hilary Wharf, director of the HS2 Action Alliance, said: "We have revisited the figures and when the latest cost increases are taken into account the benefit cost ratio for HS2 sinks to less than 0.5. That means that for every £1 spent on its subsidy we get less than 50 pence back in benefits. What is needed is a complete reworking of the HS2 business case by a competent and independent body, like the National Audit Office. Mr Cable's department later attempted to clarify that Mr Cable was still in favour of HS2. A spokesman said: "Vince Cable supports HS2. He believes this important infrastructure investment will provide essential capacity to the rail network and rebalance economic growth by creating jobs outside of London. As Vince Cable said, the Government is updating the economic analysis to reflect new information on the benefits and costs of the scheme. The updated economic case will be published later this year. A Government source close to the Department for Transport added: "It is right that the business case is constantly evolving and we have been clear we'll publish updated figures in the autumn, which is what Vince Cable was talking about. The fact is that HS2 is completely in step with the good work that Vince is doing to build up British industry. That is why it has strong support across Government and all the parties. The news came as Mr Cable admitted that a Government report which suggested the Olympics has been worth £10billion to Britain's economy may not survive "a rigorous academic approach" although they had been approved by auditors. If true, this meant that the cost of the Games - estimated to be under £9 billion - will have been outweighed by the economic benefits.