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“High-speed rail is the biggest project in the portfolio”
“The major project with the highest whole-life cost is DfT’s £55.7bn high-speed rail programme. Legislation has been passed to allow phase one of the project to proceed, with high-speed trains due to run between London and Birmingham by 2026; it is “expected to be completed on time and on budget”. However, legislation is yet to be passed for phase two – extending the route to Manchester and Leeds – and the project overall is rated amber/red, suggesting “major risks or issues apparent in a number of key areas”. In September 2018, the project was hit by the departure of its phase two managing director, Paul Griffiths, and in December 2018 Sir Terry Morgan stood down as chairman of both the high-speed rail and Crossrail programmes.[9]”