The High Speed Rail (Preparation) Act 2013 received Royal Assent on 21 November 2013. It authorises the Secretary of State for Transport, with HM Treasury approval, to incur expenditure in preparation for a high speed railway transport network (HS2). Section 2(1) of the act requires the Secretary of State to lay a report on expenditure for each financial year before parliament.
The report meets the requirements of the act, providing information on:
- expenditure incurred by cost category during the financial year to which the report relates, with C-DEL and R-DEL expenditure specified separately
- the extent to which expenditure during this period represents overspend or underspend by each cost category
- the likely effect of any such overspend or underspend on the total budget of £50.1 billion (2011 prices)
- an account of vocational qualifications gained during this period by individuals employed by HS2 Ltd