- MPs and peers have been presented with two options for the extensive restoration of the Houses of Parliament, with projected costs potentially reaching almost £40bn.
- One option, a 'full decant' requiring both houses to relocate, is estimated to take 19 to 24 years and cost up to £15.6bn.
- The alternative involves staged works, which would last 38 to 61 years and incur costs of up to £39.2bn, allowing Parliament to remain in the building.
- An initial seven-year phase of restoration work, costing up to £3bn, could commence in 2026, with a decision on the main options expected by mid-2030.
- The Palace of Westminster currently faces “unsustainable” weekly maintenance costs of £1.5m, alongside critical issues such as failing heating, sewerage problems, and a history of fire and asbestos incidents.
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