Chairman of HS2 Allan Cook's Stocktake on its deliverability has been published today (03/09/2019). The Chairman does not believe that the HS2 can be delivered within the current budget of £55.7 billion but instead estimates that a total budget of between £72-78 billion is required representing a potential increase between 30-40%. 

Further, Allan Cook believes that the current schedule for Phase One of starting service in 2026 is not realistic but proposes start of service between 2028-2031. For Phase 2b, the last phase of HS2, which is currently scheduled for 2032-2033 he proposes start of service between 2035-2040. 

Allan Cook is also of the opinion that the current estimated benefits are substantially undervalued. Transport Minister Grant Shapps commented:

An independent review is now underway to give us the facts about the costs of the HS2 project. I want to be clear with colleagues that there is no future for a project like this without being transparent and open, so we will be candid when challenges emerge.

In August Transport Minister Grant Shapps announced a review team which is to deliver a report on the costs and benefits of HS2 to the minister, Prime Minister and Chancellor in the Autumn. The review is to provide the basis for a decision on whether to go ahead with HS2 or not. 

Source: www.gov.uk