The HS2 high-speed railway’s potential cost is now estimated to exceed 80bn, reflecting a 15% rise in just over a year since the last report.
A recent estimate suggested building HS2 from London to Birmingham could now range from 67bn to 81.7bn, based on inflation adjustments and cost increases.
Transport Secretary Heidi Alexander emphasized the need for strict budget management and a thorough review of HS2's financials by new chief executive Mark Wild.
The planned northern leg of HS2 has been scrapped, adding to concerns over increasing costs and project timelines that have plagued the initiative.
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