HS2 opening to be delayed beyond 2033
The project has already suffered repeated delays and soaring costs despite being scaled back.
The opening of HS2 will be delayed beyond the planned date of 2033.
Transport Secretary Heidi Alexander told the Commons: "Today I'm drawing a line in the sand, calling time on years of mismanagement, flawed reporting and ineffective oversight.
"It means this Government will get the job done between Birmingham and London. We won't reinstate cancelled sections we can't afford, but we will do the hard but necessary work to rebuild public trust - and we've not wasted any time."
The Cabinet minister said the Government had already appointed new leadership of HS2 Ltd, and added: "We've made clear to the new chief executive Mark Wild that the priority is building the rest of the railway safely at the lowest reasonable cost, even if this takes longer."
She said that a Government-commissioned review led by senior infrastructure delivery adviser James Stewart was a "tough independent look at how the Department for Transport and Government delivers major projects" and told MPs: "The Government not only welcomes the review, but we have accepted all the recommendations."
The project has already suffered repeated delays and soaring costs despite being scaled back.
Housing and planning minister Matthew Pennycook said there were "serious problems" with HS2 "in terms of accountability, project overruns, costs".
He told LBC the Planning and Infrastructure Bill includes a number of changes that will "speed up the consenting process for nationally significant infrastructure".
He said: "Frankly, when it comes to HS2, in some ways we're a bit of a laughing stock around the world in terms of how we handle infrastructure.
"As a Government, we're absolutely determined to turn that around."
The first phase was initially planned to open by the end of 2026, but this was pushed back to between 2029 and 2033.
In 2013, HS2 was estimated to cost £37.5 billion (at 2009 prices) for the entire planned network, including the now-scrapped extensions from Birmingham.
In June last year, HS2 Ltd assessed the cost for the line between London and Birmingham would be up to £66 billion.
Concerns about the costs of the stunted project have persisted.
Revelations in November last year that HS2 Ltd spent £100 million on a bat tunnel aimed at mitigating the railway's environmental impact stunned Westminster, and were singled out by Sir Keir Starmer for criticism.