HS2 costs soar as ministers prepare to deliver more bad news on timetable

At least £2bn extra needed for London-Birmingham section as inflation spike fuels yet more cost overruns and delays on troubled rail project

Ministers are preparing to deliver more bad news on HS2, with a statement expected imminently outlining both the extent of budget overruns and more cost-cutting proposals as soaring inflation hammers the high-speed rail line’s construction.

At least £2bn more will be needed for the first London-Birmingham stretch alone since the last official update in October, well above the contingency sums in the initial £44.6bn funding and will dampen further the prospects for the full network’s delivery.