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These initiatives were driven by Lord Wolfson of Aspley Guise, and are more likely to reflect personal policy preferences.
Lord Wolfson of Aspley Guise has not introduced any legislation before Parliament
Lord Wolfson of Aspley Guise has not co-sponsored any Bills in the current parliamentary sitting
The government does intend to progress the High Speed Rail (Crewe-Manchester) Bill through parliament.
The Bill received its Second Reading in the House of Commons in June and is awaiting its special Select Committee Stage.
The HS2 programme is experiencing high levels of inflation, consistent with the rest of the economy and construction industry. Whilst I am clear that HS2 Ltd and its supply chain must do all they can do mitigate inflationary pressures, the overall cost of the programme is not affected in real terms because the budgets are set in 2019 prices.
Inflation affects the value of the costs as well as the benefits and using a consistent price base removes the effects of general inflation from the benefit-cost ratio (BCR) calculation. If materials cost inflation and general inflation are significantly different, the BCR could change. Labour and materials costs are modelled as part of the BCR analysis and will be updated for the next iteration of the HS2 business case.
For the latest update on the overall costs position of the HS2 programme I would refer my Right Honourable Friend to the publication of the six-monthly HS2 report to Parliament on Thursday 27 October 2022.
The HS2 programme is experiencing high levels of inflation, consistent with the rest of the economy and construction industry. Whilst I am clear that HS2 Ltd and its supply chain must do all they can do mitigate inflationary pressures, the overall cost of the programme is not affected in real terms because the budgets are set in 2019 prices.
To ensure comparability with all other Transport and Government schemes, discounting rates are set in accordance with the HMT's Green Book and DfT's Transport Analysis Guidance.
For the latest update on the overall costs position of the HS2 programme I would refer my Right Honourable Friend to the publication of the six-monthly HS2 report to Parliament on Thursday 27 October 2022.