The funding boost was unveiled by Transport Secretary Chris Grayling on Tuesday, 11 October, who said the UK needs HS2 "now more than ever".
The scheme, which is due to begin construction in the first half of 2017, will help tackle the capacity crisis on the rail network as well as boosting jobs and regeneration along its route.
The £70m fund is split into three separate categories:
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• The HS2 Community and Environment Fund (CEF)
• The Business and Local Economy Fund (BLEF), which together total £40 million
• £30 million road safety fund
The CEF will help enhance community facilities, improve access to the countryside and conserve the natural environment along the HS2 Phase One line of route, while the BLEF will support local economies in areas where businesses may experience disruption from the construction of HS2.
Transport Secretary Chris Grayling said: "We're facing a rapidly approaching crunch-point. In the last 20 years alone, the number of people travelling on our railways has more than doubled and our rail network is the most intensively used of any in Europe.
"We need HS2 for the capacity it will bring on the routes between London, the West Midlands, Crewe, Leeds and Manchester as well as the space it'll create elsewhere on our transport network.
"We need it for the boost it will give to our regional and national economies.
"And we need it for the jobs it will create, and for the way it will link our country together."
The first phase of HS2 is due to be completed by 2026.
(LM/MH)
