Source · Select Committees · Public Accounts Committee
Recommendation 11
11
Accepted
HS2 Euston cost estimates increased to £4.8 billion, requiring substantial reductions for affordability
Recommendation
Later, more detailed estimates showed that the costs were likely to be significantly higher, with the 11-platform design forecast to cost as much as £4.4 billion in June 2020, and the revised 10-platform design estimated to cost £4.8 billion in March 2023.21 The Department told us that it needs to try to work out what the right next step is, what the right options are to consider and how it gets to a better outcome.22 It intends to look at whether and where it may be appropriate to make some trade-offs in order to get to something that is more affordable, and acknowledged that it may have to take a substantial amount out of the £4.8 billion estimate to get to an affordable position.23 The costs and impacts of pausing construction
Government Response Summary
The government accepts the recommendation for an affordable Euston station design, committing to the Euston Reset Programme which will set a realistic budget, assess design maturity, and provide a new delivery-into-service date by Summer 2025.
Government Response
Accepted
HM Government
Accepted
2.1 The government agrees with the Committee’s recommendation. Target implementation date: Summer 2025 2.2 The objective of the Euston Reset Programme is to ensure that the scope of the HS2 station design is affordable and provides value for money to the taxpayer and that the programme is set up appropriately for HS2 Ltd to manage cost risk. The Euston Reset Programme will include the setting of a realistic budget range and assessment of maturity for the updated station design that is adopted and a new delivery-into-service date will be provided in due course.