HS2 Now Estimated to Cost Up to £102.7bn as Opening Moves into Late 2030s
HS2’s latest official cost range has risen to between £87.7 billion and £102.7 billion, while the first passenger services are not expected until between 2036 and 2039.
By Keep Updated UK Newsdesk
Published:
The estimated cost of delivering HS2 has risen to as much as £102.7 billion, according to figures published following the latest reset of Britain's largest rail infrastructure project.
The Department for Transport said in May 2026 that the expected cost was now between £87.7 billion and £102.7 billion.
The National Audit Office subsequently said the upper estimate was around double the 2020 estimate for the Phase One Euston-to-Birmingham route.
How much has already been spent?
By the end of March 2026, the government reported £44.2 billion of spending on the current HS2 programme.
When spending connected with the former Phase 2 is included, the NAO gives the wider total as approximately £46.8 billion.
Phase 2, which would have extended the high-speed network further north, was cancelled in 2023.
When will HS2 actually open?
Current plans estimate services between Old Oak Common in west London and Birmingham Curzon Street will begin between:
May 2036 and October 2039.
The full scheme, including Euston and the Handsacre connection north of Birmingham, is expected between:
May 2040 and December 2043.
Billions already spent around Euston
The NAO reported that approximately £3.8 billion had already been spent on work connected with Euston.
A further £4.1 billion of public funding is anticipated under early designs for the HS2 station and tunnelling from Old Oak Common.
The final cost would be higher once the private financing the government intends to use at Euston is included.
Can costs still be reduced?
HS2 is examining several measures.
Reducing planned train speeds from 360km/h to 320km/h is estimated to potentially save between £1 billion and £2.5 billion, although the NAO says slower journey times could reduce long-term benefits by around £1.3 billion.
HS2 Ltd is also attempting to renegotiate supply-chain arrangements and believes its commercial reset could avoid approximately £2 billion in additional costs.
The new cost range remains subject to further work, with a more fully assured baseline expected as the reset continues.
Primary sources: Department for Transport HS2 report to Parliament, May 2026; National Audit Office HS2 Reset report, June 2026.
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