THE estimated cost of building HS2 between London and Birmingham has soared to as much as £66.6 billion, MPs heard.
HS2 Ltd executive chairman Sir Jon Thompson told the Transport Select Committee that the estimated cost for Phase 1 is between £49bn and £56.6bn at 2019 prices, but adjusting the range for current prices involves “adding somewhere between eight and 10 billion pounds”.
In 2013, HS2 was estimated to cost £37.5bn (in 2009 prices) for the entire planned network, including now-scrapped extensions from Birmingham to Manchester and Leeds.
Sir Jon said reasons for the cost increase include original budgets being too low, changes to scope, poor delivery and inflation.
He said: “This is a systemic problem. It’s not just about HS2, it’s about large projects that the Government funds.
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