OBJECTIVES: To model the likely impact of introducing routine vaccination with a quadrivalent vaccine against HPV types 6, 11, 16 and 18 for 12 year old girls in Norway on relevant stakeholders’ budgets over each of the first 100 years. METHODS: An excel-based budget impact model was developed, based on the results of a mathematical model of the public health impact of different immunization strategies using the quadrivalent HPV vaccine. Natural disease history parameters were based upon international data. Rates of HPV infection, mortality, cervical cancer screening, treatment practice patterns and costs were based upon Norwegian-specific data. Both routine vaccination of 12 year old girls and the additional effect of including a 5 year catch-up vaccination program of females are modelled. The model evaluates both the direct costs related to the vaccination program, and cost savings due to reduced incidences of HPV-related disease; cervical intraepithelial neoplasia (CIN), invasive cancer and genital warts. The consequence for each stakeholder’s budget is described: The Norwegian Institute of Public Health (NIPH), the Norwegian Labour and Welfare Administration, the four Regional Health Authorities, patients and employers. RESULTS: The results are presented graphically and in tabular form, for the various stakeholders and over time. Direct costs for vaccination for the public payer are considerable, but are somewhat offset by savings for other stakeholders. The effect of the vaccine on HPV 6 and 11 infections provides both earlier cost offsets and increases them substantially. For the first 35 years the majority of discounted costs avoided are due to the prevention of HPV 6 and 11 infections. CONCLUSIONS:This analysis demonstrates the benefit of analyzing budgetary consequences per stakeholder, over time and for virus types covered. It is important to model budget consequences not only from the public payer’s perspective but also from a societal one.