UK MPs Condemn HS2 Project for Cost Overruns and Mismanagement
A parliamentary report criticizes the UK's high-speed rail project for wasting billions, failing oversight, and tarnishing the nation's global reputation.
- The Commons Public Accounts Committee (PAC) has labeled HS2 a 'casebook example' of mismanagement, citing wasted taxpayer funds and poor oversight.
- The estimated cost of the scaled-down London-to-Birmingham line has ballooned to £80 billion, more than double its original budget of £37.5 billion.
- A £100 million bat protection tunnel in Buckinghamshire is highlighted as an example of excessive spending and inefficiency within the project.
- The government and HS2 Ltd have failed to agree on cost estimates, with figures ranging from £45 billion to £66 billion in 2019 prices, excluding inflation adjustments.
- MPs warn that even the curtailed project may offer poor value for money and urge a 'fundamental reset' to salvage any benefits for taxpayers.