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The price of constructing HS2 may hit £66 billion, in response to a progress report revealed by the Division for Transport.
HS2 Ltd estimated the price of the high-speed rail mission could be £54 to £66 billion when the corporate up to date its board in June, the report says.
That is up from the final estimate for section one – £49 to £57 billion – from November 2023.
The general spend to this point – which incorporates spending on section one and the now-scrapped section two – is £32.8 billion.
The prices and forecast prices are in 2019 costs and don’t account for inflation since.
New chief government Mark Wild is finishing up a assessment of HS2’s value and timetable.
Transport Secretary Heidi Alexander mentioned the newest value estimate doesn’t consider “reset work” the Authorities has commissioned since July.
Nor does it take into account the personal financing the Authorities has dedicated to securing to increase the Birmingham to London leg to Euston, she mentioned.
Within the Price range, Chancellor Rachel Reeves confirmed funding to construct a pair of tunnels stretching 4.5 miles between Outdated Oak Frequent – within the western suburbs of the capital – and Euston.
The Authorities is in search of personal funding to redevelop Euston station for the brand new line and broaden the underground station.
It’s the first progress report back to be revealed since Labour got here to Authorities.
The chair of HS2 Ltd mentioned on Tuesday he could be standing down after nearly 4 years.
Sir Jon Thompson will depart the function within the spring and the seek for a substitute will start quickly.
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The Impartial
#HS2 #prices #hit #66bn #progress #report
Helen Corbett , 2024-12-17 19:45:00
