According to reports, Prime Minister Rishi Sunak will announce that construction of various stretches of the HS2 railway will be halted in order to save money.
Sections from Manchester to Crewe and Birmingham to Crewe are thought to be the most affected, though the BBC reports that some design teams at the Euston end of the line may also be affected.
The railway, which has been subjected to cost increases and delays over the years, is intended to connect London, the Midlands, and the North of England.
The project was estimated to cost around £33 billion in 2010. However, the price has risen to a whopping £71 billion.
Mark Thurston, chief executive of HS2 Ltd, told the BBC that his company and the government were discussing the timing and phasing of the railway construction.
He claimed that the impact of inflation had been “significant,” affecting the costs of timber, steel, aggregates for concrete, labour, and energy.
“This would be a sensible decision,” Conservative MP Simon Clarke, former Chief Secretary to the Treasury, said.
“Having followed the progress of HS2 as chief secretary, I have serious reservations about value for money and cost control.”
Last October, Transport Secretary Mark Harper stated that the forecast for when the phases of HS2 could be completed remained within planned ranges.