Oakervee review backs full HS2 project

Aaron Morby 3 weeks ago
Share

The Oakervee review into HS2 is recommending that the project go ahead in full despite ballooning costs.

According to a leak to the Times, Oakervee has concluded that the £88bn project goes ahead in full but he criticises HS2 procurement for shouldering all the risk with little gain.

The leaked document, authored by the former HS2 chairman, is critical of procurement saying that prices have been significantly inflated by contractors.

He says that HS2 “carrying most of the risk and all of the pain with little gain”

Oakervee is understood to recommend changing the excessively expensive contracting model and floats the possibility of re-procuring works for best value.

He also calls on the Government to update and publish a revised business case for the project as a whole.

Oakervee also warns that there are no shovel-ready alternative investments in the existing network to provide for much-needed additional rail capacity.

As well as backing phase one and two, serving both sides of the Pennines, the review is also understood to support plans to integrate it with new rail investment proposals from Midlands Connect.

Contractors waiting for a notice to proceed will have to hang on until the New Year for final confirmation about whether the project will proceed.

The report has officially been locked away until after the general election.

Latest news

Giant property fund suspends dealing

Outflow of cash prompts move as investors flee sector
3 hours ago

Mace takes jump factory system to next level

Contractor launches Mace Tech business to transform high rise flats building
8 hours ago

Winvic to build £57m Cardiff PRS tower

Winner confirmed for build to rent scheme as Grainger agrees funding deal
9 hours ago

Creagh Concrete targets £200m turnover

Expanding concrete specialist looks to grow workforce to 1,000
9 hours ago

Council fined £1.4m after falling bollard injures girl

Court hears how failings at council's highways deprtment left a six-year old with brain injuries
9 hours ago

Consultation opens on ring-fencing retentions in Scotland

Specialist contractors call for action to protect retention payments
9 hours ago

Vital Energi lands £7m M&E package from Berkeley Homes

Latest win for specialist at Royal Arsenal Riverside development
8 hours ago

Willmott Dixon wins £39m university refurb job

London South Bank University awards contract for new learning hub
9 hours ago

Edinburgh private rental scheme approved

Moda Living gets all clear on 139-flat Springside scheme
9 hours ago

Plan for £100m landmark Portsmouth University project

13-storey academic building will rise to
1 day ago

Go-ahead for £500m Thames riverside fire station scheme

Developer U+I to start construction on major mixed use site in 2021
1 day ago

Just days left for deal to keep Midlands hospital restart on track

Government red tape over funding improvement targets holds up deal
1 day ago

Amey utilities and waste business up for sale

For sale sign hoisted over loss-making divisions employing around 6,000 staff
1 day ago

Skanska chalks up £23m Bristol secondary school job

Contractor has strong track record of school projects in the city
1 day ago

Nod for 350 flats plan at old Leicester City ground

Mix of rental and for sale flats to be built at former Foxes homes
2 days ago

Buyers report construction still in “contraction hole”

Speed of decline falls in November but political uncertainty casts shadow over industry
2 days ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
2 years ago

Heavy rain hits another major civils job

Galliford Try's £120m Lincoln Eastern Bypass turns into a quagmire
2 days ago

Sky plans major film studio complex at Elstree

Legal & General will develop and part-finance the 32-acre site in Hertfordshire
2 days ago

Chancellor pledges review of freelance tax changes

Review of planned IR35 changes could spare construction widespread disruption
2 days ago

ISG on board for £89m Cardiff bus interchange

Mixed use scheme is contractor's biggest win of the year
2 days ago

Atkins online plea to SMEs to help fix potholes

Consultant aims to reach more small firms by bypassing traditional procurement route
2 days ago

Plan for new 8,000-seat Edinburgh indoor arena

Arena scheme to include conference, retail, leisure and hotels
2 days ago

Lorne Stewart Engineering raids N G Bailey for CEO

Paul Briars returns to Lorne Stewart after 5 years as north west boss of Baileys
3 days ago

Balfour signs £217m Lincolnshire highways upkeep deal

Work to start next Spring on six-year highways maintenance contract
3 days ago

Liverpool Festival Gardens site remediation to start in 2020

6m layer of material across 28-acre site to be processed for 1,500 eco-home scheme
3 days ago

Liverpool unveil expanded £60m Anfield stand plan

New Anfield Road Stand would raise stadium capacity to 61,000
4 days ago

Stepnell curbs growth in profitability push

151-year-old regional builder consolidates after tough year of trading.
3 days ago

Start date for £120m Nottingham Guildhall plan

Work to start on 160-bed hotel next autumn
3 days ago

Council sues Camden tower block contractors

Rydon and United Living South face huge costs claim over fire safety failings at tower blocks
6 days ago

Contractor services