The Full Business Case for HS2 Phase One to be published in 2019 will be based upon the latest available total cost estimate for the Phase One scheme. This cost estimate will be informed by supplier feedback where contracts have been awarded and will reflect expenditure to date and projected income and maintenance costs. Where contracts have not yet been awarded (e.g. railway systems, rolling stock) HS2 Ltd estimates will be used.
The Department’s business case appraisal regime means that the Full Business Case will be a robust and comprehensive assessment of the Phase One scheme in terms of its value for money, achievability, deliverability, strategic value and affordability. In respect to affordability we are determined that the Phase One scheme will be delivered within the funding envelope of £27.18bn (including rolling stock and in 2015 prices).