HS2 has been reset, which is encouraging news for anyone who believes a railway becomes cheaper and quicker when its price rises and its opening date moves further away. On 19 May 2026, the Government announced new costs and delivery timeframes, describing the exercise as a way to cut waste, regain control and get passengers moving sooner. The timetable has responded by requesting a quiet room and a biscuit.
The revised estimate puts HS2 between £87.7 billion and £102.7 billion. The first trains between Old Oak Common and Birmingham Curzon Street are now expected between 2036 and 2039, while the full route to Euston is forecast for 2040 to 2043. This is being presented as a reset rather than the infrastructure equivalent of opening the fridge and discovering the milk has been given a ministerial brief.
The Government says two thirds of the increased cost comes from omitted work, underestimation and inefficient delivery, with the remaining third attributed to inflation. The project has therefore achieved a remarkable administrative result. It has become more expensive through a combination of mistakes and the passage of time, yet remains available to describe itself as back on track. The track, meanwhile, has apparently been asked to confirm its feelings in writing.
There is some good news in the paperwork. HS2 will now run at 200 miles per hour rather than the previously planned 225, a change the Government says could save up to £2.5 billion and at least a year. Six major construction milestones have also been reached ahead of schedule, and 300 bureaucratic roles have been removed. The railway is moving at last, although much of the movement appears to be taking place inside a spreadsheet.
The reset also says cancelling HS2 could cost as much as completing it, while providing none of the benefits. This gives the project the financial temperament of a hotel reservation that charges you for leaving before you arrive. More than 6,100 contracts have been awarded to UK businesses, with more than half going to small and medium sized enterprises, so at least the supply chain has been given a timetable it can invoice.
The sensible case for HS2 remains capacity, faster journeys and economic development around the stations. The comic case is that the project can now call delay progress, overspending discipline and survival a saving. The reset has not made the train arrive on time. It has simply arranged for the explanation to arrive first, wearing a hard hat and carrying the bill. At this rate, the first passenger will board just as the Government announces a reset to celebrate how efficiently HS2 has avoided arriving.
Source: GOV.UK.
