HS2: Ministers to oversee build as costs 'spiral'

Published On Oct 20, 2024, 5:11 AM

The UK government is increasing oversight of the HS2 high-speed rail project due to spiraling costs that could reach £65 billion. Transport Secretary Louise Haigh acknowledged a 'scale of failure' in managing costs and promised urgent measures to fix the issues. The government will not revive plans to extend HS2 to Manchester and Crewe. An independent review has been commissioned to address the problems and implement necessary changes.

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Negative

As the HS2 project is scrutinized by the government and efforts are made to stabilize its costs, companies positioned to benefit from infrastructure investments in the UK, such as construction firms focused on public transportation projects, may experience negative sentiment until clear improvements in management are established.

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