The estimated cost of building High Speed 1 from Birmingham Curzon Street to London Euston is now thought to be between £49 billion and £57 billion, according to the six-monthly report to Parliament of 15 November.
In a written statement, Rail Minister Huw Merriman said the Government disagrees with the estimate because it was drawn up before the decision to cancel phases 2a and 2b were made, and that it assumes a 10-platform station at Euston. The Government wants a development corporation to deliver a six-platform station on the site. The Department for Transport, which makes different assumptions on cost risk has a lower estimate of between £45 billion and £54 billion.
So far, at 2019 prices, £24.6 billion has been spent on Phase 1, and the £6 billion budget is forecast to be exceeded by £200 million. £1 billion has been spent on Phase 2a, and £700 million each on the Western and Eastern legs of the line.
Officials are said to be working on lifting safeguarding on Phase 2a ‘within weeks’, with Phase 2b saf…
