High profile Government projects including the new aircraft carriers have been rated as high risk schemes in a new review of major schemes.

The Major Project Authority's (MPA) second annual report detailed the status of 199 schemes across Whitehall departments, rating them on a five tier traffic light system from green to red. The delivery of two Queen Elizabeth-class aircraft carriers was rated as "red" for a second year in a row, while other projects including the High Speed 2 railway or rated as "amber/red" by the MPA.

The controversial Universal Credit scheme was excluded from the review after it was "reset" by Work and Pensions Secretary Iain Duncan Smith. A spokeswoman for the department insisted the rollout remained on track as outlined last December. Cabinet Office Minister Francis Maude said the MPA's work added vital transparency to the work of Government.

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