Financial implications of the Act
- It is proposed that Phase One of High Speed 2 construction will be funded by central Government. The Spending Review settlement announced on 25 November 2015 provided provided £14.8bn of capital funding over the next five years to take HS2 forward.
- The settlement announced set out an updated funding envelope for delivering the HS2 project in 2015 prices of £55.7bn.The funding envelope has been increased to reflect inflation over the past 4 years. The envelope was previously £50.1bn in 2011 prices (as set out in the 2013 Spending Review).