The debate has highlighted not only the need for HS2 but the importance of getting it right. This is a scheme that will play a vital role in creating the necessary conditions for economic growth, but that does not mean we should press ahead unchecked. We must be clear about the impacts and act responsibly in addressing them by providing appropriate mitigation for any adverse environmental consequences, and fair compensation for those affected by the new railway.
Let me summarise how we respond to those crucial issues. First, we have been clear about the cost. It is a considerable investment but it is spread over 10 years, delivering benefits over decades, perhaps for centuries, as the Victorian network continues to deliver. This is also a project that will stand the test of time, and it is not at the expense of other investment, as we have heard. It is alongside high levels of investment in roads, in the existing rail network and in local transport schemes. This is one part of a rounded transport strategy.
It is incumbent on us to ensure that the scheme sticks to its schedule and budget, so that taxpayers get value for money, and they will. To assist us, we have recently appointed leading experts, Sir David Higgins and Simon Kirby, to lead the delivery and construction of the scheme. Following his recent review, Sir David confirmed that the scheme is on track for construction to begin in 2017.
Secondly, unfortunately it is not possible to construct a project such has this without having some impacts on the environment. However, since the very beginning, identifying those impacts and developing proposals for appropriate mitigation have been key priorities. We have carried out environmental assessments and proposed mitigation measures. We are committed to no net loss of biodiversity, as I explained to the Environmental Audit Committee recently, and we are replacing habitats for wildlife. We are generally tunnelling under rather than travelling through the Chilterns area of outstanding natural beauty, and we are integrating the railway into the landscape, hiding much of it from view. We are incorporating natural and man-made barriers to reduce noise and vibration, and we have set binding commitments to control the impacts of construction. On all of that we have consulted extensively. We have taken on board suggestions for improving the scheme, and before the Easter recess, the House received an independent report summarising consultation responses to inform its decision tonight.
Thirdly, I come to the measures to support those properties that may be affected, as raised by my hon. Friend the Member for Stone (Mr Cash) and others. People living near the proposed route are understandably worried. They deserve generous assistance and they will receive it. We have already helped more than 100 households under the exceptional hardship scheme, and we have now launched an express purchase scheme for land safeguarded for phase 1, helping owner-occupiers to sell quickly and with less fuss, regardless of whether their property is needed for HS2. [Interruption.] They get the full, unblighted open-market value of their property, plus 10%, plus reasonable moving costs, including stamp duty. [Interruption.]