HS2 may now cost up to £102.7 billion and will not reach London Euston until 2040.

The transport secretary has said today (19 May) announced an "era of neglect" of the project has come to an end through a "thorough reset".

She has set out new plans for HS2 "delivering the railway as quickly as possible and at the lowest reasonable cost".

The government announced today the project is now expected to cost between £87.7 and £102.7 billion.

Two thirds in the jump in costs has been blamed on "works being missed from the scope of the original project plan", underestimation by previous governments, inefficient delivery.

The rest has been blamed on inflation.

Transport secretary, Heidi Alexander, said: "Taxpayers, passengers and communities along the route have been let down by years of mismanagement on HS2.

"I share their anger about the waste and mess, but I am proud that this government has worked with HS2's new senior team to get this project off life support and on the road to recovery."

advertisement

The team that delivered the Elizabeth Line in London has come together to set out the new costs and timeframes.

It has been confirmed HS2 will run at 200mph, similar to speeds across Europe and Japanese bullet trains.

Previously it was planned to run at 225mph but there are no existing tracks in the UK capable of testing this.

The government says this will deliver £2.5 billion in savings and take a year off the delivery time.

The first trains are now expected to start between Old Oak Common in west London and Birmingham Curzon Street between 2036 and 2039.

An estimate of the full scheme from London Euston to Curzon Street and a connection to the West Coast Main Line, is between 2040 and 2043.

Ms Alexander added: "We will get the job done but we will also take every opportunity to save time and money in the process, getting a grip on delivery, controlling costs, and stripping out the complexity that's plagued the project in the past.

"We can and must build big infrastructure projects in Britain. But we also need competent people in charge of them.

advertisement

"This is the same team that delivered the Elizabeth Line. We have done it before, we will do it again."