The last published benefit-cost ratio (BCR) for the whole HS2 programme (Phase 1, Phase 2a, Phase 2b Western Leg) was 1.1, published in the supplement to the update on the Strategic Outline Business Case for HS2 Phase 2b Western Leg (July 2022). This excludes the Golborne Link. The BCR does not include dynamic wider economic impacts. The supplement presented the following adjusted BCRs for the different phases of the programme: Phase One & 2a Phase 2b Western Leg (excl. Golborne Link) Phase One & Phase 2a & Phase 2b Western Leg (excl. Golborne Link) Level 2 BCR (including static wider economic impacts) 1.3 0.7 1.1 We will continue to provide updated economic assessments of HS2 at key decision points for the programme, including in the next business case for Phase 2b.