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High Speed 2 Railway Line: Finance

Question for Department for Transport

UIN HL3109, tabled on 21 April 2020

To ask Her Majesty's Government, further to Conclusion 21 of the Oakervee Review of HS2, published on 11 February, whether a revised funding envelope has been set for Phase 1 of HS2 before issuing the Notice to Proceed; whether that envelope adheres to the Conclusion’s recommendation that it should have “appropriate levels of contingency, to be held by the Department for Transport and the Treasury, and which is realistic”; and if not, when the revised funding envelope will be set.

Answered on

30 April 2020

A revised funding envelope has been set for HS2 Phase 1 in line with the Prime Minister’s statement in February and as set out in the Full Business Case that has been recently published alongside the Notice to Proceed decision. This includes provision for schedule and cost contingency.