We expressed to the Department how unsatisfactory we found it that the cost estimates for completing the programme are still in 2019 prices. The Department agreed, telling us that it expects that any funding agreed at the spending review will be in current prices. It also explained that this will produce an increase in the estimated total programme cost in cash terms given that the adjustment will cover a period of time that has seen very high inflation, particularly in the construction secto...

We expressed to the Department how unsatisfactory we found it that the cost estimates for completing the programme are still in 2019 prices. The Department agreed, telling us that it expects that any funding agreed at the spending review will be in current prices. It also explained that this will produce an increase in the estimated total programme cost in cash terms given that the adjustment will cover a period of time that has seen very high inflation, particularly in the construction sector.22 HS2 Ltd, in January 2024 evidence to the Transport Committee, estimated that bringing its estimate in 2019 prices up to 2023–24 prices would add a f Type: conclusion | Number: 13 | Response status: not_addressed Government response: 2.1 The government agrees with the Committee's recommendation. Target implementation date: Spring 2026 2.2 The Secretary of State has commissioned the CEO of HS2 Ltd to undertake a comprehensive review of the programme, including HS2's current cost position and t