High Speed 2 Railway Line: Finance

Department for Transport written question – answered on 30th April 2020.

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Photo of Lord Berkeley Lord Berkeley Labour

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.

Photo of Baroness Vere of Norbiton Baroness Vere of Norbiton Parliamentary Under-Secretary (Department for Transport)

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.

Does this answer the above question?

Yes3 people think so

No4 people think not

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