The chancellor George Osborne has said he is "passionate" about HS2, believing the project can be delivered within budget.

Appearing on the BBC's Andrew Marr Show, he addressed concerns regarding the growing costs of the high speed rail scheme. Mr Osborne stated there was a set budget of £42.6 billion with a contingency plan for an extra £14 billion.

Mr Osborne said: "As we demonstrated with the Olympic Games, we can deliver these big projects actually sometimes under budget. That's why we have that contingency."

He also stated the project will be a benefit for the north and the Midlands, not just benefiting London. The HS2 project aims to connect London with Birmingham by 2026, with additional connections to Manchester and Leeds by 2033. The link will "bridge the gap" between the north and south as well as change the economic geography of the UK.

Previous announcements from the Institute of Directors and Alistair Darling, the former chancellor responsible for approving the project, have spoken out against the costs of HS2.