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<p>We are keeping a tough grip on costs and are determined to deliver HS2 within budget.</p><p>
</p><p>The Spending Review in 2015 set out a long-term budget of £55.7bn (2015 prices)
for delivery of HS2. That budget has not changed. There are currently detailed cost
estimates in place for each of the HS2 Phases (1, 2a and 2b).</p><p> </p><p>Our latest
assessment of the cost estimate for Phase 2 was published on 17th July 2017 as part
of the Phase 2 Business Case, which is attached and can be found on the GOV.UK web
site:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/629165/high-speed-two-phase-two-financial-case.pdf"
target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/629165/high-speed-two-phase-two-financial-case.pdf</a>.</p><p>
</p><p>The development of these cost estimates will evolve as the scheme design matures.
We will continue to develop the programme cost estimate to inform future decision
points, such as Phase 1 Main Works Civils Notice to Proceed expected in 2019, and
Phase 2b hybrid Bill deposit expected by the end of 2019.</p>
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