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<p>[holding answer 11 September 2013]: The 2013 spending round set a funding envelope for High Speed 2 of £42.6 billion for construction costs (£21.4 billion for Phase 1 and £21.2 billion for Phase 2) and £7.5 billion for rolling stock, including £16.1 billion of contingency, in 2011 prices. This envelope also makes provision for a property consultation package which goes beyond statutory requirements.</p><p>The Government expects the railway to be delivered for less than this long-term envelope, and the Secretary of State for Transport has set HS2 Ltd a lower ‘target price' of £17.16 billion to deliver Phase 1. More detail on the Government's long-term capital spending plans is available in “Investing in Britain's Future”:</p><p>https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/209279/PU1524_IUK_new_template.pdf</p> |