1 Author’s calculation based on European Investment Bank. (n.d.). TGV Sud Europe Atlantique. EIB. TGV South Europe Atlantic cost €7.2bn in 2011 prices, equivalent to £8.2bn in 2024 prices, or £45m per mile, compared with HS2 spend to date of £46bn, equivalent to £328m per mile. HS2 is likely to cost substantially more.
2 The main specification controls for project scale, intervention type, engineering complexity (tunnelling and elevated share), urban-rural environment, and time.
3 Office for National Statistics. (2025). Business investment in the UK: July to September 2025 revised results. ONS.
4 UK GDP at current market prices was £3.04 trillion in 2025. Office for National Statistics. Gross domestic product at market prices: Current price: Seasonally adjusted £m (YBHA).
5 World Bank. (n.d.). Gross fixed capital formation (% of GDP). World Bank Open Data.
6 Office for National Statistics. (2026). Gross fixed capital formation – by sector and asset. ONS.
7 HM Treasury. (2024, January 30). Spring Budget 2023 – Full expensing. GOV.UK.
8 Office for National Statistics. (2026). Gross fixed capital formation – by sector and asset. ONS. Author’s calculation
9 UrbanRail.Net. (n.d.). France
10 Eurostat. Length of motorways and e-roads by country
11 Eurostat. Railway lines by maximum speed and electrification
12 Blackpool, Birmingham, Edinburgh, Nottingham, Manchester, Sheffield, and South London
13 Eurostat. Length of motorways and e-roads by country
14 Institution of Civil Engineers. (n.d.). High Speed 1 and St Pancras Station. ICE.
16 UK government and HS2 ltd https://www.gov.uk/government/speeches/hs2-6-monthly-report-to-parliament-may-2026
17 High Speed Rail (London–West Midlands) Bill: Select Committee report. UK Parliament.
18 HS2 Ltd. (2015). High Speed Rail in the Chilterns Part 2: Chiltern Long Tunnel Proposal. GOV.UK.
19 HS2 Ltd. (n.d.). Exhibit U: Chiltern Tunnel extension report. GOV.UK.
20 VolkerFitzpatrick. HS2 Align JV
22 https://www.youtube.com/watch?v=1Lb6JY1TmKg
23 Stewart, J. (2025). Major Transport Projects Governance and Assurance Review: The HS2 Experience (p. 8). Department for Transport.
24 Stewart, J. (2025). Major Transport Projects Governance and Assurance Review: The HS2 Experience (p. 71). Department for Transport.
25 Stewart, J. (2025). Major Transport Projects Governance and Assurance Review: The HS2 Experience (p. 20). Department for Transport.
26 Germany, France, Spain, Italy, South Korea and Canada
27 Hopkinson, B. (2023, October 27). Infrastructure costs: Electrification. Notes on Growth.
28 Fender, K. (2021, December 15). New regional services introduced across Germany. International Railway Journal.
29 UK Parliament. (n.d.). Written evidence: Rail electrification costs. UK Parliament.
30 Transport Scotland. (2023, February 8). Parliament updated on A9 dualling programme.
31 Safer Highways. (2024, January 4). A9 dualling delayed by ten years as new plans revealed
32 Cameron, G. Why Scotland’s biggest roadworks are taking forever — 11 miles in 10 years. The Times.; For a full list of sites still ‘in preparation see: Transport Scotland | A9 dualling Perth to Inverness
33 Scottish Parliament Citizen Participation and Public Petitions Committee. (2024, November 1). Inquiry into the A9 Dualling Programme. Scottish Parliament.
34 Transport Scotland. (2023, February 8). Parliament updated on A9 dualling programme.
35 UK Parliament. (2024, November 29). Lower Thames Crossing: Written question 15444. UK Parliament.
36 Britain Remade. Revealed: How the Lower Thames Crossing is breaking records for all the wrong reasons
37 Ibid.
38 Planning Inspectorate. (n.d.). Lower Thames Crossing project documents: Statements of Common Ground
39 National Highways. (2022). Lower Thames Crossing: 5.5 Statement responding to Local Authority stated positions on Adequacy of Consultation. Planning Inspectorate.
40 Britain Remade analysis of Planning Inspectorate data.
41 Construction Enquirer. (2024, July 4). Hinkley C second reactor being built 20%–30% faster.
42 World Nuclear Association. (n.d.). Nuclear power in South Korea.
43 Deloitte. (2025). GPoC 2024: Global Powers of Construction. Deloitte Spain.
The largest UK construction firm (Balfour Beatty) is the 32nd largest globally. Much smaller economies like Sweden and Austria have a larger firm while Italy, France, Spain and South Korea all have 2 or 3 firms larger than the largest UK firm. Large UK firms make up just 2.9% of global sales for large construction firms, compared to 4.9% for Spain and 8.3% for France.
44 Dumitriu, S., Hopkinson, B., Boys Smith, N., Milner, D., Payiatis, G., & Leahy, E. (2024). Back on track: How to build new trams in the UK and get Britain moving (p. 19). Britain Remade & Create Streets.
45 Alex Chalmers. (2025). How France achieved the world’s fastest nuclear buildout. Works in Progress.
46 House of Commons Library. (n.d.) .Reviewing and reforming business rates. UK Parliament.
47 Tower Hamlets Council. (2006). Crossrail petition: AP Council, 21 June 2006. Tower Hamlets Council.
48 House of Lords Select Committee on the Crossrail Bill. (2008). Crossrail Bill: Minutes of evidence, questions 2000–2019. UK Parliament.
49 Région Nouvelle-Aquitaine. (n.d.). La LGV, alternative à l’avion et à la voiture dans le Sud-Ouest; Cour des comptes. (2013). La participation des collectivités territoriales au financement de la ligne à grande vitesse Est (LGV Est) (p. 5).
50 Cour des comptes. (2013). La participation des collectivités territoriales au financement de la ligne à grande vitesse Est (LGV Est): Des contreparties coûteuses, une gare de trop (p. 3).
51 Audit Scotland. (2011). Edinburgh trams: Interim report (p. 5).
52 Ibid. (p. 28).
53 Ibid. (p. 63-64)
54 City of Edinburgh Council. Launch of Trams to Newhaven passenger services.
55 Levy, A. (2019, June 24). Assume Nordic costs: London edition. Pedestrian Observations.
56 https://www.bbc.com/news/articles/cpdxvppgjj0o
57 https://www.bbc.com/news/articles/c5ypl7djzr2o
58 http://nationalhighways.citizenspace.com/he/a12-chelmsford-to-a120-widening-scheme-23-to-25/results/a12chelmsfordtoa120wideningjunctions23to25-frequentlyaskedquestions.pdf pg 3, figure adjusted for inflation since 2020
59 https://www.constructionnews.co.uk/sections/news/dft-reveals-values-and-timescales-for-billions-of-pounds-of-projects-20-05-2022/
61 https://www.bbc.co.uk/news/articles/c1dpglr360ko
62 https://nationalhighways.co.uk/our-roads/south-east/a27-worthing-and-lancing-improvements/
63 https://www.bbc.co.uk/news/articles/cn01y6ezr11o
64 Assuming similar costs per mile to to the dualling of another part of the same road https://nationalhighways.co.uk/our-roads/east/a47-blofield-to-north-burlingham/
65 https://www.bbc.co.uk/news/articles/cp35wxrq0n6o
66 https://www.newcivilengineer.com/latest/lessons-from-cancelled-320m-a27-arundel-bypass-where-inefficiencies-impacted-scheme-by-59-weeks-07-11-2024/
67 https://www.newcivilengineer.com/latest/third-menai-crossing-costs-treble-to-around-400m-28-10-2022/
68 https://www.transport.gov.scot/media/0x3j4udm/brochure-m8-woodside-viaducts.pdf
69 Costs vary significantly from region to region largely based on population density. Road projects in London are significantly more expensive than in rural Scotland.
70 Many are already listed above, others include works related to: A19 Seaton Burn, A64 Hopgrove, M1 Leeds Eastern Gateway, M1/M62 Lofthouse Interchange, M1 J35A-39, M6 J22, M6 J19-21A, Manchester South East Junction Improvements, A483 Pant-Llanymynech Bypass, M1 North Leicestershire extra capacity, M1 Leicester Western Access, A5 Hinkley to Tamworth, A47 Elm Road Junction, M11 Junction 13 Cambridge West, the Severn Resilience Package, A2 Brenley Corner, A3/A247 Ripley South, A2 Dover Access, A303 Phase 2 upgrade, A21 Safety package, A27 Chichester Improvements and the A38 Trerulefoot-Carkeel safety package.
71 Savills. (2024, May 30). Costs on the rise. Savills UK.