It has been widely reported that Sir Jeremy Heywood is running his slide rule over HS2 reflecting concerns within Government that the budget for the project could be exceeded. The cost of HS2 has gradually risen over time, from £32.6 billion in January 2012 to £55 billion in November 2015, up from the previous estimate of £50 billion set two years earlier.
This increase is a particular issue, because the vast majority of the cost of building HS2 will fall on the taxpayer, with perhaps a proportion of those costs recouped on completion by the letting of a contract to operate the line. Therefore, it should be no surprise that a project of this magnitude should be subject to periodic review by one of our most senior mandarins.