The Birmingham runway extension is more important for the immediate needs of the West Midlands than futuristic discussion about high speed rail, a top businessman has claimed.

John Rider, regional chairman of the Institute of Directors, said HS2 was very welcome but an airport extension would produce faster results.

His major fear is for jobs - concern that, with unemployment already around ten per cent, the West Midlands is struggling to create the opportunities that will be needed as public sector cutbacks and economic constraint bite.

Mr Rider is also sceptical about whether HS2 can keep to timetabling - construction to begin in 2017 with the first trains running by 2025.

He said: "Yes, of course we want and need HS2.

"But the timescale for serious economic impact from the project is many years away - perhaps ten years planning and consultation and another ten years to build. After all, when have we ever seen one of these big projects ever run to time in this country?"

He also expressed his worries that the Localism Bill could mean yet more delays.

It confirmed abolition of the Infrastructure Planning Commission in favour of a Major Infrastructure Planning Unit within the Planning Inspectorate, with Ministers taking the final decisions.

But the Bill also proposes wider powers for local authorities, parish councils and communities generally.

Mr Rider charged: "The Coalition has scrapped the Infrastructure Planning Commission after a very short time in office.

"The Commission was designed to overcome planning permission problems if a project was 'in the national interest' and needed pushing through - a motorway, for instance. Now the new and supposedly better planning approach means that HS2 can seemingly be challenged about every 50 metres - or every time it crosses a local authority or parish boundary."

And he went on: "Arguably, the extra bit of runway at Birmingham airport will have more impact and will deliver results quicker.

"We must get that project started. Let's get on with it - the time for talking is over."