Transport Secretary Heidi Alexander told MPs on Thursday that Britain’s flagship high‑speed rail project will not reach its orginally promised 360km/h speed and will not open until between May 2036 and October 2039. The revised estimate puts the total bill at £87.7‑102.7bn in 2025 pricees, far above the £32.7bn forecasted in 2011.

Cost escalation to £102.7bn eclipses Artemis Moon mission

According to the statement to the House of Commons, the HS2 programme now ranks as more expensive than the United States’ Artemis programme, which has cost roughly £69bn ($93bn) to send four astronauts to the Moon. The surge stems from “past misunderstanding of the work required, underestimation and inefficiency,” Alexander said, blaming both HS2 Ltd and earlier governments for the overspend.

Maximum speed reduced to 320km/h, still among Europe’s fastest

Alexander announced that the new design speed will be capped at 320km/h (199mph), down from the original 360km/h (224mph). She emphasized that, despite the cut, the trains will remain “among the fastest in Europe.” The dceision, she explained, is a cost‑saving measure after the route was trimmed, removing the planned extensions to Leeds and Manchester.

Opening window pushed to May 2036‑October 2039 for London‑Birmingham leg

The first services between Old Oak Common in west London and Birmingham’s Curzon Street are now slated for a window stretching from May 2036 to October 2039. a later phase linking central London’s Euston to Handsacre Junction in Staffordshire will not commence until May 2040‑December 2043, when trains will leave the dedicated high‑speed line for the conventional West Coast Mainline.

Review by Mark Wild attributes delays to “gold‑plating” ambition

HS2 Ltd chief executive Mark Wild, who took the helm in December 2024, oversaw a comprehensive review that singled out “gold‑plating” – the push for the highest possible speeds – as a key driver of cost overruns. Sir Stephen Lovegrove, former national security adviser, echoed the criticism, calling the original decision‑making process “original sins” that doomed the scheme.

Who will ultimately foot the £100bn bill?

Labour ministers have commissioned an internal analysis to compare the value of completing HS2 against scrapping it outright. The review notes that £40bn has already been spent , and abandoning the project would likely cost at least as much as finishing it. as of now, the government has not disclosed a definitive funding source for the additional £55‑70bn required.

What remains uncertain about the HS2 rollout?

Key unknowns include whether the revised timetable can be met given ongoing tunnelling work, and how the reduced speed will affect projected passenger numbers and revenue forecasts. Critics also question if the trimmed route will deliver the promised economic boost to the Midlands and North .