Backers of HS2 – even those who do believe things could have been done better along the way – will view this as a squandered opportunity to better connecting the country, create jobs, and create more space on the rail network for both passenger and freight services.

They will warn that Britain’s reputation as a place to invest, and for seeing through big infrastructure projects, has been damaged.

Opponents will argue that HS2 was the wrong idea in the first place, money would be better used elsewhere, and costs have been allowed to spiral out of control.

People whose lives have already been uprooted by property purchases along the planned HS2 route north of Birmingham, will wonder what all that stress was for.

If the decision ends up being that HS2 trains will go to Manchester using existing tracks, it follows that no extra capacity – space – would be created, and journey time benefits would be reduced.

If the prime minister’s argument is that the money from HS2 Phase 2 will be used on improving transport elsewhere, it will be interesting to hear the details of exactly how this will work, and when that money would be available.

There is also the question of what happens to “Northern Powerhouse Rail”. The Manchester part of HS2 was to form the start of this East-West link.