The chairman of High speed 2 project in UK has stated that HS2 will continue to explore Private Finance opportunities and remarked the potential for transport investment to drive growth, redistribute opportunity and support towns and cities across the UK.

The indepented review for the project was announced on August 21, 2019. The review will consider its affordability, deliverability, benefits, scope, and phasing, including its relationship with Northern Powerhouse Rail.

The review will report to the chairman of the project in autumn 2019. He will discuss the findings with the Prime Minister and Chancellor of the Exchequer. The recommendations from review will inform decisions on next steps.

HS2 is the single largest project of this government. One important aspect of the panel’s work is to consider whether both the costs and the benefits, of the scheme, have been correctly identified. HS2’s business case has been founded on increasing capacity on our constrained rail network, improving connectivity, and stimulating economic growth and regeneration. The current budget was established in 2013 and later adjusted to 2015 prices. Since that time, significant concerns have been raised.

Regarding schedule, the Chairman does not believe the current schedule of 2026 for initial services on Phase One is realistic. In line with lessons from other major transport infrastructure projects, his advice proposes a range of dates for the start of service. He recommends 2028 to 2031 for Phase One - with a staged opening, starting with initial services between London Old Oak Common and Birmingham Curzon Street, followed by services to and from London Euston later. He expects Phase 2b, the full high-speed line to Manchester and Leeds, to open between 2035 and 2040.

He has also suggested that Phase 2a, West Midlands to Crewe, could be delivered to the same timetable as Phase 1, subject to Parliamentary approval. Finally, he is of the view that the benefits of the current scheme are substantially undervalued. HS2 Ltd continues to refine its estimates of cost, benefits and schedule. All these will be considered within the scope of the Oakervee review.