A leading thinktank believes the controversial High Speed 2 (HS2) rail project is a "£33 billion gamble".

The New Economics Foundation (NEF) has conducted a report into the government's huge development - the first phase of which is scheduled to open in 2026 - and has questioned whether it represents value for money.

Although the authorities think the line will bring immense economic benefits to the UK, the NEF study suggested the demand for high-speed train services may have been overestimated.

David Theiss, a researcher at the thinktank, believes the huge sum of money needed to establish the route would be better spent elsewhere.

"Instead of pouring billions of pounds into a single line that will take 20 years to complete we should be spreading our bets on a wider range of transport investments," he remarked.

The government has already come under pressure to revise its plans from a number of campaigners, some of whom are worried about the environmental impact of HS2.