The HS2 railway project is facing significant delays, with its opening now unlikely before 2035, according to Transport Secretary Heidi Alexander. Two forthcoming reviews are expected to reveal problems, particularly highlighting cost overruns of up to £37 billion due to poor contract management and constant scope alterations by the previous government. A reset of the project is anticipated, led by new CEO Mark Wild and incoming Chair Mike Brown. Euston station exemplifies the cost issues, burdening HS2 with expenses while future profits will go to the Treasury.
Cost overruns of up to £37 billion have arisen due to how the HS2 project was initiated and the contracts awarded to contractors.
Constant changes to the project scope by the previous government resulted in significant finances being written off, particularly with alterations to Euston station.
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