Downing Street was said to be preparing to announce that construction of certain sections of HS2 will be pushed out as part of an effort to cut costs.
According to the BBC, the delay will primarily affect sections of the high-speed railway line from Manchester to Crewe and Birmingham to Crewe, but may also impact design teams working on the Euston end of the line.
The HS2, which will link London, the Midlands and North of England, has been beset by delays and cost increases, ballooning from an estimated cost of around £33.0bn in 2010 to at least £71.0bn due to the rising cost of materials amid elevated inflation.
The BBC stated the government will now look to delay the project in order to allow it to spread the cost over a longer period of time, reducing annual expenditure.
At present, HS2 trains are scheduled to carry their first passengers between Old Oak Common in West London and Birmingham between 2029 and 2033, while Euston station will open by 2035.
Reporting by Iain Gilbert at Sharecast.com