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.