Liz Truss (pictured in Downing Street last month) said ministers must be prepared to pull the plug on big projects which are hit by spiralling costs rather than sit back and allow 'mission creep'

Liz Truss today hinted the controversial HS2 rail link could be scrapped as she said the Government must be prepared to 'junk white elephant' projects.

She said ministers must be prepared to pull the plug on big projects which are hit by spiralling costs rather than sit back and allow 'mission creep'.

The Treasury Minister's intervention comes amid dismay at the ballooning costs of the major railway projects HS2 and Crossrail.

Officials fear the costs of HS2 - a new rail link joining London to the West Midlands, Leeds and Manchester - could balloon past its £56billion budget to over £100bn.

Sir Terry Morgan last month resigned as chairman of HS2 and Crossrail projects amid reports he was about to be sacked after just four months in the job.

Speaking to the Sunday Telegraph, Ms Truss took what appeared to be a veiled swipe at the big and hugely divisive infrastructure projects.

Ms Truss, who is tipped as a possible future Tory leader, is leading a major spending review this year.

She said she will be examining 'all major investment projects across Government and judging their contribution to future prosperity', after expensive programmes like the £56 billion HS2 rail line drew anger from Tory MPs.

What is HS2 and when did work first start on the project? HS2 (High Speed 2) is a plan to construct a a new high-speed rail linking London, West Midlands, Leeds and Manchester. The line is to be built in a 'Y' configuration. London will be on the bottom of the 'Y', Birmingham at the centre, Leeds at the top right and Manchester at the top left. 2009 The idea for a second high-speed line was proposed in 2009 by the Department for Transport under the Labour Government. It was to be developed by a new company, High Speed Two Limited (HS2 Ltd). 2013 Early in this year, the government confirmed the route the new line would take. It also announced that the work would be completed in two phases, from London to the West Midlands and from the West Midlands to Crewe. 2017 Work on Phase One began in 2017 after the project was given royal assent. The government plans envisage the line being operational by 2026. 2024 The first trains scheduled to be used on the project are set to arrive for testing. 2026 The first passengers are scheduled to travel on HS2. How much has the project cost? The project has a projected cost of £56 billion ($77 billion), up from the initial cost of £32.7 billion ($45 billion) in 2010. Last year's annual report showed that the company established by the government to build the railway spent £500 million in the year to March 31 - up almost 30 per cent from £352.9 million the year before. It takes the amount spent by HS2 so far to more than £1.9billion since 2009. Accounts published by the Transport Department also showed it had spent another £366 million on HS2. The bulk of this was on compensating those who own property and land near the planned line. Advertisement

She said: 'In reviewing this evidence, we must be prepared to junk the white elephants, the programmes that haven't worked, and roll back mission creep, where Government involves itself in areas the private sector can deliver.

'Growth and bang-for-buck must take precedence.'

She also said politicians 'must heed the demand' of Leave voters to 'Take Back Control'.

And signalling her support for slashing red tape, she said said once the UK exits the EU 'people won't want powers being handed back from bureaucrats in Brussels to be given to bureaucrats in Britain'.

Ms Truss said: 'Our aim should be to give the British people greater control of their lives in all regards.

'In practical terms, that requires a three-pronged agenda: combating Jeremy Corbyn's ideas for a state-on-steroids; delivering a growing economy; and finding more areas in which we can transfer powers from the Government to the people.'

She added: 'But if we are truly to deliver a 'Take Back Control' agenda, it cannot just be about economics.

'The state should not encroach on people's lives unnecessarily, interfering in lifestyles or preferences.

'Of course it needs to provide essential services, public goods and defence of the realm.

'But when decisions do have to be taken, it should be by those who are accountable to the electorate, not unelected quangos.'

Before his resignation, Sir Terry admitted there was 'still a lot of work to do' to deliver the £56billion rail project on time and in budget.

He said that it will now be 'very difficult' to make sure the line is built within its price.

Labour London Mayor Sadiq Khan was scathing in his assessment of Sir Terry after his resignation.

He said: 'Historically there's been a lack of adequate information shared by the senior Crossrail leadership with the project’s joint sponsors - namely, the Department for Transport & Transport for London.'

He said rail bosses were confident the high speed line, on which trains will travel 250mph, would eventually be deliver - but it would be a 'big challenge' to hit government targets.

He was also in charge of the £15billion Crossrail project, which has been plagued by repeated delays and will nine months behind schedule.