THE GOVERNMENT yesterday claimed it has identified potential cost savings of £1bn on the High Speed Two railway project as a result of its annual review of major infrastructure projects.
The Treasury update says the principles set out in its initial 2011 infrastructure report have helped it cut the price of the new railway line. It also says the cost of adding a new lane to a trunk road fell from £9.7m/km in 2010 to £7.2m/km in 2012.
But the report warns the UK is still a more expensive place to build big projects compared to EU rivals, largely due to “stop-start investment” and poor management.
Infrastructure minister Lord Deighton said: “I want to ensure that going forward we have much better visibility of the performance of these projects and a means to continually measure and monitor performance”.