Financial implications of the Act
It is proposed that Phase One of High Speed 2 construction will be funded by central Government. The Spending Review settlement announced on 25 November 2015 provided provided £14.8bn of capital funding over the next five years to take HS2 forward.
	The settlement announced set out an updated funding envelope for delivering the HS2 project in 2015 prices of £55.7bn.The funding envelope has been increased to reflect inflation over the past 4 years. The envelope was previously £50.1bn in 2011 prices (as set out in the 2013 Spending Review).