What are the risks of HS2?
What are the risks of HS2?
Five ‘core risks’ to HS2 schedule and budget
- Protests. HS2 is a high profile scheme and is the target for protest and obstructive activity affecting construction sites and also vacant possessions.
- Supply chain capacity.
- Likelihood of ‘catastrophic incident’
- Losing talent in leadership teams.
- External/ political events.
How much will HS2 really cost?
HS2 is a huge project to create a high-speed rail route between London and other major cities in the Midlands and the North of England. The plan will cost £96bn and is considered the “biggest transport investment programme in a century”.
Who is paying for HS2?
What High Speed Two (HS2) Limited does. High Speed Two (HS2) Limited is the company responsible for developing and promoting the UK’s new high speed rail network. It is funded by grant-in-aid from the government. HS2 Ltd is an executive non-departmental public body, sponsored by the Department for Transport.
How much is HS2 per mile?
Every escalation in costs has dented the economic case for HS2 – £106bn equates to an astonishing £307m per mile to build 345 miles of high-speed track.
What is the benefit cost ratio of HS2?
HS2 bcrs v2. The government’s last full economic appraisal of the scheme in 2013 revised the benefit-cost ratio to 1.8 in 2013. When Phase 1 was approved by Parliament, HS2 was medium value-for-money, according for the government’s own guidance on transport investments.
Why is HS2 so expensive?
2) Risk and uncertainty When you start planning a major infrastructure project such as HS2, experts are supposed to make informed estimates about the amount of time and money needed to complete each phase. And that’s why the price tag for the second phase of HS2 is not certain.
What are the benefits of HS2?
Pros of High-Speed Rail HS2 will free up capacity on the existing lines, enabling more local commuter services and more freight services – more freight trains will help take lorries off the road and provide environmental benefits.
What was the initial cost of HS2?
The costs of HS2 were estimated in 2010 to be between £30.9 billion and £36 billion; in 2015, this estimate was combined with the cost of rolling stock and adjusted for inflation to give a budget of £56.6 billion….
| High Speed 2 | |
|---|---|
| Website | www.hs2.org.uk |
| Service | |
| Type | High-speed railway |
| System | National Rail |
Why is the HS2 so expensive?
In a major infrastructure project such as this, the company in overall charge – HS2 Ltd – contracts out the work to a vast array of other companies. Companies contracted by HS2 Ltd in the early part of the project carried the risk associated with the work. That pushed prices up significantly.
Why is HS2 bad for the environment?
Ecosystems permanently damaged. Irreplaceable habitats destroyed. Taxpayer’s money spent on habitat restoration wasted.
What’s the benefits of HS2?
Why is HS2 a problem?
Many of the HS2 critics are environmental groups which claim the project could increase carbon emissions and cause huge damage to natural habitats, including dozens of ancient woodlands. Constructing the railway lines through these areas could also threaten the survival of certain species.
What was the original cost of the HS2?
The draft report said there is a “considerable risk” that costs could rise by another 20% from the last estimate in September, which priced the scheme at £81bn-£88bn. The original budget was £34bn.
When is second phase of HS2 to be completed?
Report calls for work on second phase of high-speed rail project to be put on hold for six months The first leg of the HS2 link, from London to Birmingham, may now not be completed until 2031. Photograph: Toby Melville/Reuters
What did Oakervee review say about HS2?
The Oakervee review is set to recommend that ministers push ahead with HS2. But it says further work is needed to assess what economic benefits or impact on growth the project will have in the regions.
