From the Financial Times

Europe’s 30 most important transport projects will cost far more than first thought, making it uncertain how some financially strapped governments will find the necessary funds, according to an independent study.

The report, prepared by PwC, the professional services firm, for the European parliament, blames the €40bn ($63bn, £32bn) cost overrun on poor project management, planning difficulties, changes in project specifications, lawsuits and lack of funding.