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<p>In 2011, the Government consulted on the proposed strategy for a national high
speed rail network. A decision to proceed with High Speed 2 was taken in January 2012
(Cm 8247). The total spend on High Speed 2 from the financial year 2009/10 to 2011/12
was £87.7 million.</p><p>Expenditure on HS2 from 2012/13 onwards is included in the
long-term funding envelope for delivering HS2. The funding envelope was restated in
2015 prices in Spending Review 2015 at £55.7 billion, including rolling stock. The
funding envelope is net of any proceeds from selling Land & Property that is not
directly needed for construction of the railway.</p><p>I am committed to managing
both the cost of HS2 and ensuring maximum value for the taxpayer, and delivering within
the funding available.</p>
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