£692M! Price of M74 extension soars to new high

Publication date 24/06/08

THE cost of the M74 extension has soared again, to almost £700million bringing the bill to more than £26,000 per foot.

A report published today by spending watchdog Audit Scotland revealed the five-mile, six-lane stretch will now cost £692m, that’s £35m more than the price last announced. The M74’s missing link’, which is already three years late, is Britain’s most expensive road, working out at £26,400 per ft or just over £80,000 a metre.

Audit Scotland blamed poor management for the massive price hike. The original estimate in 2001 was £245m and the last cost stated, in February this year, was £657m. That was made up of £445m plus an allowance for around £12m to deal with possible mine workings along the route on top of £200m spent.