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No-one took full account of how complex the project was going to be, says the spending watchdog.
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The National Audit Office (NAO) has delviered some robust criticism of both the Department for Transport and HS2 Ltd and their methods of costing the project.
It argues that risks were under-estimated and the complexity of the project has meant that it was inevitable that the project was going to be over-budget and, as a result, delivering value for money for taxpayers was becoming an issue.
It will be interesting to see how February's review of HS2 is presented in this light. Expect a fudge, is my advice.