Long term debt on HS2 estimated at £39.9bn by 2093, in addition to the initial £55.7bn funding
£39.8bn is the current estimate of the net costs to government. This figure is the current estimate of capital and operating costs, less the revenue estimated HS2 will generate. This figure covers the construction of the railway and its operation up to 2093. It should be noted that this figure is distinct from the HS2 funding envelope of £55.7bn set as part of the 2015 Spending Review.
The full reply to our enquiry is set out below:
Thank you for your email to HS2 Ltd.
In July 2017 HS2 published our most recent estimates of the costs and benefits of the HS2 scheme following the Secretary of State’s decisions on the proposed route for Phase 2b. This information can be found in the Economic case advice for the Department for Transport which can be accessed via the following link: https://www.gov.uk/ government/uploads/system/ uploads/attachment_data/file/ 628526/CS866_A_HS2_Phase_2a_ Economic_case.pdf
The £39.8bn figure you have highlighted is the current estimate of the net costs to government. This figure is the current estimate of capital and operating costs, less the revenue we estimate HS2 will generate once the scheme is operational. This figure is for the Full HS2 Network and covers the construction of the railway and its operation up to 2093 (60 years after the opening of Phase 2b in 2033). This figure is in 2015 prices and is discounted to present values in line with all government appraisals.
It should be noted that this figure is distinct from the HS2 funding envelope of £55.7bn set as part of the 2015 Spending Review. At the 2015 Spending Review (SR15), the Government restated the long-term funding envelope for delivery of the full HS2 scheme of £55.7 billion (Quarter 1 2015 prices). The £55.7 billion represents the upfront capital investment required for the construction of the network, including rolling stock. This figure is in 2015 prices but is not discounted to present values.
HM Treasury are responsible for decisions as to how HS2 will be funded as part of overall public spending commitments, for further information please contract them directly.
The consultation deadline has now passed and the submission we made can be downloaded, see links below. Thanks to everyone who has supported us and contributed to the consultation themselves. We do not know when HS2 will respond but we will let you know as soon as we do. We are also considering ways in which we can keep our concerns at the forefront of the debates we expect will be going on behind the scenes.
North West Leicestershire District Council (NWLDC) confirmed that it is concerned about the impact of the proposed route for HS2 during a meeting of its Full Council on Thursday 17 February 2017.
The council plans to let the Government know that the impact of the revised route, which is proposed to run to the east of Measham, will have an unacceptable impact on the villages of Packington, Appleby and Measham.