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HS2 to cost £10bn more than planned, minister tells MPs HS2 may cost £10bn more than planned, minister tells MPs
(35 minutes later)
The budget for the HS2 railway has increased by nearly £10bn to more than £40bn, the transport minister has said. The proposed budget for the HS2 railway has risen by nearly £10bn to more than £40bn, the transport minister has said.
Patrick McLoughlin told the Commons the new projected cost of £42.6bn, up from £33bn, would include a large "contingency" fund.Patrick McLoughlin told the Commons the new projected cost of £42.6bn, up from £33bn, would include a large "contingency" fund.
He said the final cost could be lower than the new estimate, but said revising the figure was "right".He said the final cost could be lower than the new estimate, but said revising the figure was "right".
Some Conservative MPs are expected to vote against the High Speed Rail (Preparation) Bill later.Some Conservative MPs are expected to vote against the High Speed Rail (Preparation) Bill later.
The new high-speed railway line is intended to link London to Birmingham by 2026, with branches to Manchester and Leeds, via Sheffield, planned by 2032.The new high-speed railway line is intended to link London to Birmingham by 2026, with branches to Manchester and Leeds, via Sheffield, planned by 2032.
The first phase budget is now £21.4bn, with £21.2bn budgeted for phase two. These figures include a contingency fund of £14.4bn across the scheme. The first phase budget is now £21.4bn, with £21.2bn for phase two. These figures include a contingency fund of £14.4bn across the scheme.
Mr McLoughlin said contingency money was built into the London Olympics budget but the cost ended up "below the price that had been set by the government".Mr McLoughlin said contingency money was built into the London Olympics budget but the cost ended up "below the price that had been set by the government".
"While I expect the final costs to be lower than those I have just outlined... this is the right way to plan the project," he told MPs."While I expect the final costs to be lower than those I have just outlined... this is the right way to plan the project," he told MPs.
He also said the new budget took account of "design and environmental changes to improve the scheme". He also said the new budget took account of "design and environmental changes to improve the scheme", including alterations to the route such as a tunnel under the M6 near Birmingham.
There have been changes to the proposed route, including a tunnel under the M6 near Birmingham, Mr McLoughlin said scrapping HS2 would be the "easiest thing in the world" for the government, but the long-term cost of that would be "huge".
If passed, the bill would give the transport secretary power to spend money developing the HS2 line. He said building HS2 would "create and support" at least 100,000 jobs and "underpin" a further 400,000.
'Years too late' HS2 could add more than £4bn to the economy before opening and would provide "around £50bn worth of economic benefits once it is up and running", he added.
A group of mainly Conservative MPs have tabled a rebel amendment, urging MPs to reject the bill until budgets and the route are determined. Mr McLoughlin said the coalition was considering various compensation schemes for residents affected by the planned rail line, including a possible "property bond".
The bill, which would give the transport secretary power to spend money developing the HS2 line, is being debated at its second reading in the House of Commons.
A group of mainly Conservatives have tabled a rebel amendment, urging MPs to reject the bill until budgets and the route are determined.
The rebellion is being led by former cabinet minister Cheryl Gillan, whose Amersham constituency will be affected by the plans.The rebellion is being led by former cabinet minister Cheryl Gillan, whose Amersham constituency will be affected by the plans.
"I have to try my best - I couldn't put my head on my pillow if I had not tried," she said. She said the project was "30 years too late" and added: "Technology and the whole of the UK is moving in a different direction."
"I was first opposed to this project because it went through my constituency and an Area of Outstanding Natural Beauty - once you designate it as that, you have got to protect it.
"[But the project] is 30 years too late - technology and the whole of the UK is moving in a different direction."
Mrs Gillan's motion has been backed by 27 other Conservative MPs, plus four Labour, one Green, one Plaid Cymru and one independent.Mrs Gillan's motion has been backed by 27 other Conservative MPs, plus four Labour, one Green, one Plaid Cymru and one independent.
But Labour backs the high-speed rail project, meaning the government is expected to easily win the vote. But Labour backs HS2, meaning the government is expected to easily win the vote.
Robert Oxley from the Taxpayers' Alliance described the project as a "white elephant", which wouldn't deliver the economic benefits ministers claim. Shadow transport secretary Maria Eagle said HS2 was "essential", but voiced concerns about delays to the project.
Robert Oxley from the Taxpayers' Alliance described the project as a "white elephant", which would not deliver the economic benefits ministers claim.