Hs2

Transport secretary says first official estimate in 2026 prices shows ‘obscene increase’ after ‘shocking legacy’ of previous governmentBusiness live – latest updatesThe HS2 high-speed railway will now cost up to £102.7bn and trains will not start running between London and Birmingham until as late as 2039, the government has admitted – £70bn more and 13 years later than originally promised.The transport secretary, Heidi Alexander, said that the truncated railway would not be entirely completed until as late as 2043. Continue reading...

Transport secretary to give budget details of troubled high-speed line, which backers hope will stay well below £100bnThe latest estimate of the cost of HS2 and a timetable to complete construction of the high-speed railway will be set out by the government on Tuesday, including plans to run trains slower to trim costs.The transport secretary, Heidi Alexander, is expected to give the first official reckoning of the troubled project’s budget in 2026 prices, which HS2’s backers hope will remain substantially below £100bn. Continue reading...

Review of original train order is meant to prevent service problems north of Birmingham, but it may do the oppositePlans to change the size of HS2 trains to maximise capacity are likely to inflate costs and mean fewer seats and slower services north of Birmingham, a senior government and rail industry figure has warned.The £2bn order for 54 high-speed trains, to be built in Britain by a joint venture of Alstom and Hitachi, is under review as HS2 Ltd seeks to cut costs and renegotiate contracts. Continue reading...

Company will assess whether drop to 186mph from 224mph will save money and help bring forward launchMinisters have told High Speed Two to consider running its trains at lower speeds, in an attempt to rein in the spiralling budget and begin operations as soon as possible.HS2 Ltd will assess whether limiting the speed to 186mph (300km/h) instead of 224mph could save money – potentially billions of pounds – and bring the railway into being earlier in the 2030s. Continue reading...