PARLIAMENTARY WRITTEN QUESTION
High Speed 2 Line: Finance (12 July 2021)

In July 2019, the budget for the project remained £55.7bn (2015 prices). Cost and schedule pressures were known and work was continuing to identify options to ensure the overall affordability of the HS2 project – this is detailed in the National Audit Office’s January 2020 HS2 progress report. The independent Oakervee review was formally commissioned in August 2019 to enable government to make properly-informed decisions on the future of the project, including the estimated cost and schedule position. A revised funding envelope was agreed in April 2020 with 6 monthly updates now provided to Parliament to allow full scrutiny of the project.