We have now put the New Hospital Programme on a sustainable footing, with a timeline that can be met, and a budget that is consistent with the fiscal rules under which the Government is operating. We are backing this plan with investment, which will increase to up to £15 billion over each consecutive five-year wave, averaging approximately £3 billion a year from 2030. The exact profile of funding will be confirmed in rolling five-year waves at regular Spending Reviews, as with all Government capital budgets in future. The cost estimates for schemes include the significant cost of inflation in recent years and use a construction specific index to inflate future costs.

The final funding amount for the Specialist and Emergency Care Hospital in Sutton will be subject to the review and approval of a Full Business Case nearer to construction starting between 2032 and 2034, as is standard for large infrastructure projects.