One of the biggest criticisms of HS2 Railway’s construction contracts has been addressed, with HS2 replacing deals that left taxpayers carrying almost all the financial risk with new agreements designed to reward contractors for delivering the railway on time and on budget. The original contracting model, agreed before construction began in 2020, was highlighted by HS2 chief executive Mark Wild as one of the project’s fundamental problems. The way the contracts were written – as a cost plus model – offered little incentive for contractors to control costs, leaving HS2 exposed to overruns. As a result, HS2’s contractors were also insufficiently incentivised to meet cost targets, and HS2 had failed to establish an effective contract management model. Mark Wild, Chief Executive of HS2 Ltd, said: “This is good news, but there’s more to do.