Greybeard33
Established Member
The Integrated Rail Plan of November 2021 promised total investment of £96.4bn [2019 prices] in the North and Midlands. Of this, £36.6bn was to complete HS2 Phase 1, £5.9bn for Phase 2a, £17bn for Phase 2b west and £12.2bn for Phase 2 east. Additionally £17.2bn was assigned to NPR Core, including Liverpool to High Legh with the Warrington BQ low level station, and a new line from Piccadilly to Marsden, part tunnelled. (The remainder of the £96bn was for smaller enhancement projects including TRU).So is the 12bn just for the HS2-NPR core? If it is, where are they getting the money from to actually build the rest of NPR. They still need money to build the Warrington station and build the track to the Manchester tunnel, *and* tunnel out to diggle.
AIUI the Network North announcement purports to reassign the total Phase 2 funding of £35.1bn [2019 prices]. This has then been split into £12bn for NPR High Legh to Piccadilly and £36bn for all the other Network North proposals [both 2023 prices]. The £12bn is presumably meant to be the IRP estimated cost of Phase 2b west, less the costs of the Crewe tunnel, the Crewe to High Legh section and the Golborne link.
The announcement did not mention the £17.2bn already assigned to NPR core, so that theoretically remains available in addition to the £12bn.
However, the Treasury revaluation of 2019 prices will not allow for the amount that construction inflation has outstripped general inflation over the past four years, nor for any HS2 Ltd over-optimism in its Phase 2b cost estimates.
The additional £12bn cost transferred to NPR core will greatly worsen the value for money of the project. This will make it a sitting duck target for future Treasury budget cuts.