HS2 Project Faces £100bn Budget Overrun Amid Delays, CEO Admits Challenges
HS2 boss admits new £100bn price tag is 'terrible news' and says Government 'had lost control' of rail fiasco - but claims new line will NOT be delayed any further

Image: Mail Online
Mark Wild, CEO of the HS2 project, acknowledged that the budget has soared to £100 billion, calling it 'terrible news.' Despite the challenges and delays, he assured that the project would not face further delays and would aim for completion between May 2036 and October 2039. The project has faced criticism for its spiraling costs and inefficiencies.
- 01The budget for HS2 has increased from an initial estimate of £32.7 billion to £100 billion.
- 02Transport Secretary Heidi Alexander indicated that costs will range from £87.7 billion to £102.7 billion in 2025 prices.
- 03The first operational route is expected to run between Old Oak Common in west London and Birmingham's Curzon Street station.
- 04Mark Wild admitted the design of HS2 is only 80-90% complete, despite construction being underway since 2017.
- 05Rail minister Lord Hendy expressed that taxpayers would be 'rightly horrified' by the project's management.
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The HS2 project, aimed at creating a high-speed rail link between London and Birmingham, is facing significant budget overruns, with costs projected to reach £100 billion. Mark Wild, the project's CEO, described the situation as 'terrible news' during a recent session with the Transport Select Committee. Initially budgeted at £32.7 billion, the project has been plagued by delays and inefficiencies, with Transport Secretary Heidi Alexander stating that costs will likely fall between £87.7 billion and £102.7 billion in 2025 prices. The first leg of the line is now expected to be operational between May 2036 and October 2039, with trains running at a maximum speed of 199 mph, slower than originally planned. Wild attributed the budget increase to inflation spikes, particularly due to the war in Ukraine, and admitted that the project had lost control prior to his leadership. He emphasized the need for a coordinated approach moving forward, with a commitment to provide a more reliable schedule by April 2027. Rail minister Lord Hendy echoed concerns about the project's management, indicating that the current state is unacceptable for such a major infrastructure initiative.
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The rising costs and delays of the HS2 project could affect taxpayers and commuters, as funding may be diverted from other transport initiatives.
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