In June 2013, after the second reading of the High Speed Rail (Preparation) Bill, the Secretary of State clarified that HS2 Ltd should continue to act both in a delivery and advisory role for the development of the high speed rail network. In its delivery role, HS2 Ltd is: to help make High Speed Two an Engine for Growth'; provide advice to enable the Department for Transport to deposit a hybrid Bill in Parliament for Phase One (London to West Midlands); and develop the design of Phase Two (West Midlands to Leeds and Manchester). In its advisory role, HS2 Ltd is to: undertake strategic work on longer term options for serving Scotland and the North East; advise the Department on costs, benefits and commercial issues for Phase One; take forward initial work on the train and systems operations for the railway and work with the Department to develop options for the future delivery and operational model.
HS2 Ltd was incorporated under the Companies Act, limited by guarantee, in January 2009. It has a sole member, the Secretary of State, for whom it is remitted to undertake work. HS2 Ltd is a separate legal entity from the Crown and is also an Executive NDPB sponsored by the Secretary of State. The Chief Executive's remuneration figure given is the salary and excludes pension costs. HS2 Ltd is fully funded from the public purse by grants-in-aid from DfT - DfT's allocated budget for HS2 Ltd was £247.7 million in 2013/14 Actual expenditure for 2013/14 was £212.9 million. The High Speed Rail (Preparation) Act 2013 received Royal Assent in November 2013 and authorises HS2 Ltd to incur expenditure in preparation for a high speed railway transport network. Under its authority, HS2 Ltd will undertake further detailed design work, let contracts for designing the construction of the line, design the realignment of existing railway, plan the movement of utilities, carry out ground investigation and ecological surveys, and, through DfT, to purchase property and make compensation payments to homeowners.
|Chairs Remuneration (p.a. unless otherwise stated)|
|Chief Executive / Secretary Remuneration||125-30|
|Register of Interests||Yes|
|Last Annual Report||2013-14|