HS2 boss blames failure to control costs on rush to start work

Mark Wild says ‘fundamental reset’ needed, as Department for Transport admits it has no final cost estimate

Enormous budget overruns on the HS2 high-speed railway have been blamed by its new chief executive on a “rush to start”, as the Department for Transport admitted it did not know how much it would cost.

Mark Wild, the chief executive of HS2 Ltd, told MPs a “fundamental reset” was needed but a new plan would take until mid-2026 to devise. “We have to acknowledge that HS2 in its core mission to control costs has failed,” he said. “We must break the cycle.”