High Speed 2 (HS2), is designed to connect London to the west Midlands and northern cities such as Leeds and Manchester. The project is due to begin this spring but its future could now be at risk following the release of a leaked Government review which has stated the cost of the project could rise to £106billion – an increase from its initial £56billion cost in 2015.

Seen by the Financial Times, the review led by Douglas Oakervee, a former chairman of HS2, warned of the “considerable risk” the scheme’s price could rise by 20 percent or more.

The projected value rises beyond the £81-88billion projected by HS2 chairman, Allan Cook four months ago.

Moreover, the review was cautious over the economic benefits HS2 will bring to the region.

According to the report, “further work” will be needed to asses the impact on the region while it also states “transport investment alone will not ‘rebalance’ the UK economy”.

Overall, the review stated the project should proceed although it would require “a number of qualifications” before it does so.

Mr Johnson paused the project before the election and is expected to make a final decision in the coming weeks.

A No 10 spokesman said: “The Government commissioned the Oakervee review to provide advice on whether and how to proceed with HS2.

“A draft of the Oakervee review was delivered shortly before Christmas. We are committed to publishing the findings of the review to Parliament.

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“That remains the case, I am not going to pre-empt its publication.”

The project will create a 250mph railway going from London’s Euston station to Birmingham, before the second phase would branch the rail to Leeds and Manchester by 2040.

Manchester mayor, Andy Burnham, insisted the decision on whether to go forward with the project will be “the Government’s commitment to the north of England”.

He added: “To me that would be the same old story.

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“London to Birmingham, money is no object, and then all the penny pinching is done in the North of England.

“In my mind there’s no justification at all for doing one thing between London and Birmingham, and doing something different in the North.

“If you’re going to do it, do it properly. Don’t do it by halves.”

The leaked review would increase the pressure on Mr Johnson, following his promises to “level up” the economy in the north during the election campaign.

Issues surrounding the project have yet to be resolved with contractors building the scheme still to agree prices for the construction.

Moreover, there is concern over the project’s management, with more scrutiny needed from several Government departments.

The leaked review added: “The review has not seen convincing evidence that HS2 Ltd, especially the phase one construction team, have the level of control and management of the construction normally associated with major projects.”

Transport Secretary, Grant Shapps admitted last week that he needs to “ask for more detail and figures” on the proposal.

While Former Treasury mandarin, Lord Nicholas Macpherson said: “What will it take for our political elite to accept this vanity project is not value for money?

“Imagine how many sensible rail and road projects could be built with the money including the tunnel under Stonehenge.”

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