Read this article in French German Italian Portuguese Spanish
Reporters reveal cost breakdown of HS2
07 July 2025
A report by The Sunday Times newspaper has broken down the approximate costs of the HS2 project in the UK into where the money has been spent, including how much has been paid to contractors, consultants and legal firms.
The final cost of HS2 is expected to be around £100 billion when it has been completed. Image: HS2High Speed 2 (HS2) is a high-speed railway which has been under construction in England since 2019. A National Audit Office report estimates that completing the full HS2 network will cost between £72 billion (US$98 billion) and £98 billion (US$133 billion) at 2019 prices.
Data obtained by The Sunday Times reveals that HS2 Ltd has already paid over £38.8 billion (US$52.8 billion) in construction costs, plus a further £3.8 billion (US$5.1 billion) on property acquisition.
Among the biggest recipients are contractors Balfour Beatty and Vinci, who have each been paid more than £5 billion (US$6.8 billion). Kier has received £2.4 billion (US$3.2 billion), and Eiffage £2.3 billion (US$3.1 billion). In total, 13 firms have each been paid over £1 billion (US$1.36 billion).
HS2 Ltd’s use of ‘cost-plus’ contracts, under which contractors are reimbursed for expenses with a guaranteed margin, has come under criticism as it left the UK government exposed to rising prices.
Legal advisers billed £67 million (US$91 million), while the ‘big four’ accountancy firms charged £292 million (US$397.6 million) for consultancy services. An additional £50 million (US$68 million) was spent on public relations, stakeholder engagement and events.
The Labour administration has pledged a “full reset” of the project’s governance and spending in the face of serious structural failings.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
