HS2 ‘poor value for money’ after cuts

HS2's Thames Valley viaduct under construction on Phase 1. Phillip Sherratt

The Public Accounts Committee says the curtailed High Speed 2 now offers very poor value for money to taxpayers – and neither the Department for Transport nor HS2 Ltd know what they expect the final benefits to be.

In its latest report into HS2 and Euston, published on 7 February, the Committee points out that even including as a benefit the £11 billion in 2019 prices avoided by not cancelling the whole project, HS2 will only return between £1.10 and £1.80 for every pound spent on the project.


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