HS2 is at risk of running £800m over budget as a result of overruns on enabling works, the challenge of removing more asbestos than anticipated, and £400m worth of ‘significant cost pressures’ at Euston Station following further development of the baseline scheme.
That’s according to HS2 minister Andrew Stephenson, who has written a report updating Parliament on the high-speed railway’s progress.
Main construction work on the first phase of HS2 began in spring this year after the full business case for the line between the West Midlands and London, including an increased budget, was approved.
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