I will look at the detail of that. I am certainly determined that Parliament should be kept well informed and, of course, the company will be open to the scrutiny of the Public Accounts Committee and the National Audit Office reporting to the PAC. There is a way in which the House can keep an eye on the matter.
My third point is about funding. We can today welcome the allocation made by the Chancellor in infrastructure investment. Tomorrow, the Chief Secretary to the Treasury will say more about our plans. I know that in the context of the Bill, the House will want to be updated on the cost of HS2. I can therefore tell the House that tomorrow I will be writing to the chairman of HS2 Ltd to set a target price for delivering phase 1 of the project. That amount is £17 billion at 2011 prices. That takes account of the design and environmental changes to improve the scheme. Those changes include a tunnel from Old Oak Common to Northolt, design changes at Euston station, and a tunnel under the M6 near Birmingham.
As a responsible Government, we must be prudent, which means allowing the right level of contingency. In addition, therefore, we have set an overall indicative amount for the budget for phase 1 of £21.4 billion. For phase 2, it is £21.2 billion, so the total is £42.6 billion at 2011 prices. That includes £12.7 billion of contingency.