High Speed 2 Line: Construction
The question
To ask the Secretary of State for Transport, what estimate (a) her Department and (b) HS2 Limited have made of the cost of construction of HS2 in each of the last five years.
Answered by Keir Mather
Construction of HS2 Phase One started following notice to proceed in April 2020. Since October 2020, the cost to date of delivering HS2 is set out in the 6 monthly Parliamentary Report. Capital expenditure on Phase One is reported in the HS2 Ltd Annual Report and Accounts – expenditure for each of the last 5 years is summarised in the table below:
Year | Capital Expenditure on HS2 Phase One |
2020/21 | £3.1 billion |
2021/22 | £4.8 billion |
2022/23 | £6.6 billion |
2023/24 | £7.2 billion |
2024/25 | £6.8 billion |
The Spending Review settlement has also provided £25.3 billion to progress delivery of HS2 from the West Midlands to London Euston covering financial years 2026-2027 to 2029-2030.
The programme is currently undergoing a fundamental reset under the leadership of CEO of HS2 Ltd, Mark Wild. As part of this reset, a revised cost estimate will be agreed and reported to Parliament in due course.
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