Home Business NewsBusiness HS2 project is a massive £7bn over-budget says MPs

HS2 project is a massive £7bn over-budget says MPs

by LLB Reporter
14th Sep 16 9:50 am

The mega train project not on track

The public is being kept in the dark about the huge costs and time that’s being taken on the HS2 project, a new report has found.

MPs have warned that ministers need to set out a realistc timetable for the delivery of the project which is currently expected to cost more that £55bn.

Members of the Public Accounts Committee (PAC) told Sky News they were “not convinced” by the current schedule, describing it as “overly ambitious”.

The first phase of the project between London and the West Midlands is set to open in December 2026.

Minsiters and bosses in charge of HS2 Ltd, the company behind the project, are now looking to extend this by a year, Mps said.

A government spokesperson also insisted the project was “on time and on budget”.

“We are keeping a tough grip on costs, and pressing ahead with plans for Phase Two – with further details due to be announced this autumn,” the spokesperson for the Department for Transport added.

Committee chair Meg Hillier said both parliament and the public were “still in the dark about crucial details” about the project.

“Lack of clarity over plans for HS2 in South Yorkshire highlights what is at stake for communities and local economies, and why government must explain its intentions and the basis for its decisions in a transparent manner,” she added.

 

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