AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
HS2 fraud investigation initiated by taxman, Macquarie closes in on airport acquisition.
ByAinvest
Sunday, Jun 15, 2025 2:23 am ET1min read
The taxman has begun a fraud investigation into HS2 over allegations of large-scale financial impropriety. Meanwhile, Australian infrastructure giant Macquarie is closing in on a multibillion-pound swoop for Birmingham, Bristol, and London City airports. Britain's biggest companies are discussing with the Treasury the White House's attempts to raise taxes on their American operations.
The UK's tax authority, HM Revenue & Customs (HMRC), has initiated a fraud investigation into the High Speed 2 (HS2) rail project over allegations of large-scale financial impropriety. The investigation, which focuses on potential tax fraud by subcontractors, comes as HS2 Ltd has referred itself to HMRC following an internal review [1].HS2 Ltd, responsible for the high-speed rail line, has been rocked by delays, cost overruns, and mismanagement allegations. The company is currently conducting an internal review led by Mark Wild, who was appointed as chief executive in December 2023 to address the project's challenges. Wild has not yet provided a date for the opening of the London to Birmingham leg or an updated cost estimate [2].
Meanwhile, Australian infrastructure giant Macquarie is closing in on a multibillion-pound acquisition of Birmingham, Bristol, and London City airports. The move is part of Macquarie's strategy to expand its global airport portfolio [3].
In other financial news, Britain's biggest companies are in urgent discussions with the Treasury regarding the White House's attempts to raise taxes on their American operations. This follows recent reports that the White House is considering increasing tax rates on American-based multinational corporations [4].
References:
[1] https://www.thetimes.com/uk/transport/article/taxman-begins-fraud-investigation-into-hs2-m06jtdcfc
[2] https://citywire.com/wealth-manager/news/sunday-papers-taxman-begins-fraud-investigation-into-hs2/a2467862
[3] https://www.railtech.com/all/2025/06/10/hs2-whistleblower-payout-renews-scrutiny-of-spiralling-costs/
[4] https://www.osborneclarke.com/insights/boost-housing-and-infrastructure-uk-government-spending-review
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet