High Speed 2 Line: Costs
The question
To ask the Secretary of State for Transport, what the total cost in (a) 2019 prices and (b) today after being adjusted for inflation of HS2 as estimated by CEO of HS2 Ltd in his preliminary report to her Department.
Answered by Simon Lightwood
Mark Wild is leading a comprehensive reset of the programme to deliver the remaining works at the lowest reasonable cost. As part of this work, he will advise the Department on a revised cost estimate for HS2.
As Mark Wild set out in his letter, HS2 Ltd’s unassured estimate of the maximum cost of HS2 excluding Euston in June 2024 was £61.8bn in Q3 2019 prices, however he identified the programme was facing significant additional pressures which he will assess as part of the reset.
Once a revised cost estimate is agreed, this will be expressed in an updated price base and better capture the inflation incurred since 2019, following a commitment made by the Department to the Public Accounts Committee in December.
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