- He's changed his mind.
- His description about how and why Labour decided to support the project (costs far in the future and we get to announce a big scheme) - very depressing for those of us who favour evidence based policy making
- The fact that he highlights the opportunity cost of the spending and the uncertainty over costs and benefits, including the impact on the North-South divide. Precisely (I won't repeat the arguments here - you can follow the links)
Anyhow, let's hope that Mandelson's intervention the thin end of a very big wedge. We need a much more sensible debate on whether HS2 is the right way to spend money.