18
HS2 Ltd acknowledges suboptimal contract risk management contributed to a £6 billion cost increase.
Conclusion
HS2 Ltd acknowledged that it has not managed these contract risks in an optimal or coherent way.30 In September 2023, HS2 Ltd estimated that the forecast cost of main civil construction work alone had increased by £6 billion (2019 prices) since 2020.31 27 Q 35; Department for Transport, HS2 6-monthly report to Parliament: December 2024, 17 December 2024 28 C&AG’s Report, High Speed Two: A progress update, Session 2019–20, HC 40, 24 January 2020 29 Committee of Public Accounts, High Speed 2: Spring 2020 update, Third Report of Session 2019–21, HC 84, 17 May 2020 30 Q 5 31 C&AG’s Report, para 4.6 14
Government Response
A response document is linked to this report, dated 16 May 2025. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
10th Report - HS2: Update following the Northern leg cancellation
28 Feb 2025
HC 357
Addressee Bodies
HM Treasury
Timeline
Recommendation age
1.5 yrs
Report published
28 Feb 2025