HS2 could come in under cost, says boss

Around £14.4 billion of the total cost of phase one and phase two of HS2 includes contingencies.

But HS2 Ltd executive chairman Sir David Higgins told the House of Lords Economic Affairs Committee: "We should not assume the contingency will be spent."

He admitted that HS2 involved 'a lot of money' but he added: "The biggest way of spending money is constantly changing our minds (about the project)."

Committee member and former Tory chancellor Lord Lawson questioned the need for HS2 trains to travel at speeds, on some stretches, of as high as 400 kph (250 mph), suggesting that the cost of the project could be reduced by as much as nine per cent if the trains went slower.

But Sir David disputed the nine per cent figure and stressed the need for the project, saying that the existing West Coast main line was 'a nightmare' to maintain while the current Birmingham to Leeds service was 'hopeless' in that it could take as long as two hours.

He also defended the economic benefit of HS2, saying that benefits of many other major transport projects had originally been underestimated.

He told the committee of the importance of having a dedicated line for high-speed trains. He went on: "The fundamental weakness of the existing network is that access is very difficult and utilisation is very poor, with all sorts of trains having to travel on the same lines."

Sir David referred to this week's revelation that a Southern train company Brighton to London morning rush-hour train had never arrived on time throughout 2014.

"There are too many trains in the timetable. It can never run on time," he said.

On fares for HS2 trains, Sir David said it could be that there will be a need to have conference facilities on board, or a first-class dining car.

He went on; "Or you may say it should have everyday prices, be a turn-up-and-go railway and you won't want to have premium fares."

Construction for the London to Birmingham route is due to begin in 2017 and be finished by 2026.