diff --git a/cardano-cli/test/cardano-cli-golden/Test/Golden/Governance/Action.hs b/cardano-cli/test/cardano-cli-golden/Test/Golden/Governance/Action.hs
index 19c350c67b..e346e65864 100644
--- a/cardano-cli/test/cardano-cli-golden/Test/Golden/Governance/Action.hs
+++ b/cardano-cli/test/cardano-cli-golden/Test/Golden/Governance/Action.hs
@@ -126,3 +126,28 @@ hprop_golden_conway_governance_action_view_create_info_json_outfile =
       , "--out-file", actionViewFile
       ]
     H.diffFileVsGoldenFile actionViewFile goldenActionViewFile
+
+hprop_golden_conway_governance_action_create_protocol_parameters_update :: Property
+hprop_golden_conway_governance_action_create_protocol_parameters_update =
+  propertyOnce . H.moduleWorkspace "tmp" $ \tempDir -> do
+    stakeAddressVKeyFile <- H.note "test/cardano-cli-golden/files/input/governance/stake-address.vkey"
+    costModelsFile <- H.note "test/cardano-cli-golden/files/input/governance/costmodels.json"
+
+    actionFile <- noteTempFile tempDir "action"
+
+    void $ execCardanoCLI
+      [ "conway", "governance", "action", "create-protocol-parameters-update"
+      , "--proposal-anchor-url", "example.com"
+      , "--proposal-anchor-metadata", "this the reasoning behing my proposal"
+      , "--mainnet"
+      , "--stake-verification-key-file", stakeAddressVKeyFile
+      , "--governance-action-deposit", "12345"
+      , "--new-governance-action-deposit", "123454321"
+      , "--new-max-tx-size", "1234"
+      , "--new-cost-model-file", costModelsFile
+      , "--out-file", actionFile
+      ]
+
+    goldenActionFile <- H.note "test/cardano-cli-golden/files/golden/governance/action/conway-create-protocol-parameters-update.action"
+    H.diffFileVsGoldenFile actionFile goldenActionFile
+
diff --git a/cardano-cli/test/cardano-cli-golden/files/golden/governance/action/conway-create-protocol-parameters-update.action b/cardano-cli/test/cardano-cli-golden/files/golden/governance/action/conway-create-protocol-parameters-update.action
new file mode 100644
index 0000000000..29fede8d95
--- /dev/null
+++ b/cardano-cli/test/cardano-cli-golden/files/golden/governance/action/conway-create-protocol-parameters-update.action
@@ -0,0 +1,5 @@
+{
+    "type": "Governance proposal",
+    "description": "",
+    "cborHex": "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"
+}
diff --git a/cardano-cli/test/cardano-cli-golden/files/input/governance/costmodels.json b/cardano-cli/test/cardano-cli-golden/files/input/governance/costmodels.json
new file mode 100644
index 0000000000..e8c3000fd0
--- /dev/null
+++ b/cardano-cli/test/cardano-cli-golden/files/input/governance/costmodels.json
@@ -0,0 +1,349 @@
+{
+  "PlutusV1":
+  {
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+    "equalsString-cpu-arguments-constant": 1000,
+    "cekDelayCost-exBudgetMemory": 100,
+    "lessThanEqualsByteString-cpu-arguments-intercept": 103599,
+    "divideInteger-memory-arguments-minimum": 1,
+    "appendByteString-cpu-arguments-slope": 621,
+    "blake2b-cpu-arguments-slope": 29175,
+    "iData-cpu-arguments": 150000,
+    "encodeUtf8-cpu-arguments-slope": 1000,
+    "unBData-cpu-arguments": 150000,
+    "multiplyInteger-cpu-arguments-intercept": 61516,
+    "cekConstCost-exBudgetMemory": 100,
+    "nullList-cpu-arguments": 150000,
+    "equalsString-cpu-arguments-intercept": 150000,
+    "trace-cpu-arguments": 150000,
+    "mkNilData-memory-arguments": 32,
+    "lengthOfByteString-cpu-arguments": 150000,
+    "cekBuiltinCost-exBudgetCPU": 29773,
+    "bData-cpu-arguments": 150000,
+    "subtractInteger-cpu-arguments-slope": 0,
+    "unIData-cpu-arguments": 150000,
+    "consByteString-memory-arguments-intercept": 0,
+    "divideInteger-memory-arguments-slope": 1,
+    "divideInteger-cpu-arguments-model-arguments-slope": 118,
+    "listData-cpu-arguments": 150000,
+    "headList-cpu-arguments": 150000,
+    "chooseData-memory-arguments": 32,
+    "equalsInteger-cpu-arguments-intercept": 136542,
+    "sha3_256-cpu-arguments-slope": 82363,
+    "sliceByteString-cpu-arguments-slope": 5000,
+    "unMapData-cpu-arguments": 150000,
+    "lessThanInteger-cpu-arguments-intercept": 179690,
+    "mkCons-cpu-arguments": 150000,
+    "appendString-memory-arguments-intercept": 0,
+    "modInteger-cpu-arguments-model-arguments-slope": 118,
+    "ifThenElse-cpu-arguments": 1,
+    "mkNilPairData-cpu-arguments": 150000,
+    "lessThanEqualsInteger-cpu-arguments-intercept": 145276,
+    "addInteger-memory-arguments-slope": 1,
+    "chooseList-memory-arguments": 32,
+    "constrData-memory-arguments": 32,
+    "decodeUtf8-cpu-arguments-intercept": 150000,
+    "equalsData-memory-arguments": 1,
+    "subtractInteger-memory-arguments-slope": 1,
+    "appendByteString-memory-arguments-intercept": 0,
+    "lengthOfByteString-memory-arguments": 4,
+    "headList-memory-arguments": 32,
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+    "consByteString-cpu-arguments-intercept": 150000,
+    "unIData-memory-arguments": 32,
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+    "bData-memory-arguments": 32,
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+    "encodeUtf8-memory-arguments-intercept": 0,
+    "cekStartupCost-exBudgetCPU": 100,
+    "multiplyInteger-memory-arguments-intercept": 0,
+    "unListData-memory-arguments": 32,
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+    "remainderInteger-memory-arguments-slope": 1,
+    "cekForceCost-exBudgetCPU": 29773,
+    "sha2_256-cpu-arguments-slope": 29175,
+    "equalsInteger-memory-arguments": 1,
+    "indexByteString-memory-arguments": 1,
+    "addInteger-memory-arguments-intercept": 1,
+    "chooseUnit-cpu-arguments": 150000,
+    "sndPair-cpu-arguments": 150000,
+    "cekLamCost-exBudgetCPU": 29773,
+    "fstPair-cpu-arguments": 150000,
+    "quotientInteger-memory-arguments-minimum": 1,
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+    "lessThanInteger-memory-arguments": 1,
+    "lessThanEqualsInteger-cpu-arguments-slope": 1366,
+    "fstPair-memory-arguments": 32,
+    "modInteger-memory-arguments-intercept": 0,
+    "unConstrData-cpu-arguments": 150000,
+    "lessThanEqualsInteger-memory-arguments": 1,
+    "chooseUnit-memory-arguments": 32,
+    "sndPair-memory-arguments": 32,
+    "addInteger-cpu-arguments-intercept": 197209,
+    "decodeUtf8-memory-arguments-slope": 8,
+    "equalsData-cpu-arguments-intercept": 150000,
+    "mapData-cpu-arguments": 150000,
+    "mkPairData-cpu-arguments": 150000,
+    "quotientInteger-cpu-arguments-constant": 148000,
+    "consByteString-memory-arguments-slope": 1,
+    "cekVarCost-exBudgetMemory": 100,
+    "indexByteString-cpu-arguments": 150000,
+    "unListData-cpu-arguments": 150000,
+    "equalsInteger-cpu-arguments-slope": 1326,
+    "cekStartupCost-exBudgetMemory": 100,
+    "subtractInteger-cpu-arguments-intercept": 197209,
+    "divideInteger-cpu-arguments-model-arguments-intercept": 425507,
+    "divideInteger-memory-arguments-intercept": 0,
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+    "multiplyInteger-cpu-arguments-slope": 11218,
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+    "modInteger-memory-arguments-slope": 1,
+    "addInteger-cpu-arguments-slope": 0,
+    "equalsData-cpu-arguments-slope": 10000,
+    "decodeUtf8-memory-arguments-intercept": 0,
+    "chooseList-cpu-arguments": 150000,
+    "constrData-cpu-arguments": 150000,
+    "equalsByteString-memory-arguments": 1,
+    "cekApplyCost-exBudgetCPU": 29773,
+    "quotientInteger-memory-arguments-slope": 1,
+    "verifySignature-cpu-arguments-intercept": 3345831,
+    "unMapData-memory-arguments": 32,
+    "mkCons-memory-arguments": 32,
+    "sliceByteString-memory-arguments-slope": 1,
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+    "mkNilPairData-memory-arguments": 32,
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+    "appendString-cpu-arguments-intercept": 150000,
+    "quotientInteger-cpu-arguments-model-arguments-slope": 118,
+    "cekApplyCost-exBudgetMemory": 100,
+    "equalsString-memory-arguments": 1,
+    "multiplyInteger-memory-arguments-slope": 1,
+    "cekBuiltinCost-exBudgetMemory": 100,
+    "remainderInteger-memory-arguments-intercept": 0,
+    "sha2_256-cpu-arguments-intercept": 2477736,
+    "remainderInteger-cpu-arguments-model-arguments-intercept": 425507,
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+    "mkNilData-cpu-arguments": 150000,
+    "chooseData-cpu-arguments": 150000,
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+    "subtractInteger-memory-arguments-intercept": 1,
+    "lessThanByteString-cpu-arguments-intercept": 103599,
+    "consByteString-cpu-arguments-slope": 1000,
+    "appendByteString-memory-arguments-slope": 1,
+    "trace-memory-arguments": 32,
+    "divideInteger-cpu-arguments-constant": 148000,
+    "cekConstCost-exBudgetCPU": 29773,
+    "encodeUtf8-memory-arguments-slope": 8,
+    "quotientInteger-cpu-arguments-model-arguments-intercept": 425507,
+    "mapData-memory-arguments": 32,
+    "appendString-cpu-arguments-slope": 1000,
+    "modInteger-cpu-arguments-constant": 148000,
+    "verifySignature-cpu-arguments-slope": 1,
+    "unConstrData-memory-arguments": 32,
+    "quotientInteger-memory-arguments-intercept": 0,
+    "equalsByteString-cpu-arguments-constant": 150000,
+    "sliceByteString-memory-arguments-intercept": 0,
+    "mkPairData-memory-arguments": 32,
+    "equalsByteString-cpu-arguments-intercept": 112536,
+    "appendString-memory-arguments-slope": 1,
+    "lessThanInteger-cpu-arguments-slope": 497,
+    "modInteger-cpu-arguments-model-arguments-intercept": 425507,
+    "modInteger-memory-arguments-minimum": 1,
+    "sha3_256-cpu-arguments-intercept": 0,
+    "verifySignature-memory-arguments": 1,
+    "cekLamCost-exBudgetMemory": 100,
+    "sliceByteString-cpu-arguments-intercept": 150000
+  },
+ "PlutusV2": {
+		"addInteger-cpu-arguments-intercept": 205665,
+		"addInteger-cpu-arguments-slope": 812,
+		"addInteger-memory-arguments-intercept": 1,
+		"addInteger-memory-arguments-slope": 1,
+		"appendByteString-cpu-arguments-intercept": 1000,
+		"appendByteString-cpu-arguments-slope": 571,
+		"appendByteString-memory-arguments-intercept": 0,
+		"appendByteString-memory-arguments-slope": 1,
+		"appendString-cpu-arguments-intercept": 1000,
+		"appendString-cpu-arguments-slope": 24177,
+		"appendString-memory-arguments-intercept": 4,
+		"appendString-memory-arguments-slope": 1,
+		"bData-cpu-arguments": 1000,
+		"bData-memory-arguments": 32,
+		"blake2b_256-cpu-arguments-intercept": 117366,
+		"blake2b_256-cpu-arguments-slope": 10475,
+		"blake2b_256-memory-arguments": 4,
+		"cekApplyCost-exBudgetCPU": 23000,
+		"cekApplyCost-exBudgetMemory": 100,
+		"cekBuiltinCost-exBudgetCPU": 23000,
+		"cekBuiltinCost-exBudgetMemory": 100,
+		"cekConstCost-exBudgetCPU": 23000,
+		"cekConstCost-exBudgetMemory": 100,
+		"cekDelayCost-exBudgetCPU": 23000,
+		"cekDelayCost-exBudgetMemory": 100,
+		"cekForceCost-exBudgetCPU": 23000,
+		"cekForceCost-exBudgetMemory": 100,
+		"cekLamCost-exBudgetCPU": 23000,
+		"cekLamCost-exBudgetMemory": 100,
+		"cekStartupCost-exBudgetCPU": 100,
+		"cekStartupCost-exBudgetMemory": 100,
+		"cekVarCost-exBudgetCPU": 23000,
+		"cekVarCost-exBudgetMemory": 100,
+		"chooseData-cpu-arguments": 19537,
+		"chooseData-memory-arguments": 32,
+		"chooseList-cpu-arguments": 175354,
+		"chooseList-memory-arguments": 32,
+		"chooseUnit-cpu-arguments": 46417,
+		"chooseUnit-memory-arguments": 4,
+		"consByteString-cpu-arguments-intercept": 221973,
+		"consByteString-cpu-arguments-slope": 511,
+		"consByteString-memory-arguments-intercept": 0,
+		"consByteString-memory-arguments-slope": 1,
+		"constrData-cpu-arguments": 89141,
+		"constrData-memory-arguments": 32,
+		"decodeUtf8-cpu-arguments-intercept": 497525,
+		"decodeUtf8-cpu-arguments-slope": 14068,
+		"decodeUtf8-memory-arguments-intercept": 4,
+		"decodeUtf8-memory-arguments-slope": 2,
+		"divideInteger-cpu-arguments-constant": 196500,
+		"divideInteger-cpu-arguments-model-arguments-intercept": 453240,
+		"divideInteger-cpu-arguments-model-arguments-slope": 220,
+		"divideInteger-memory-arguments-intercept": 0,
+		"divideInteger-memory-arguments-minimum": 1,
+		"divideInteger-memory-arguments-slope": 1,
+		"encodeUtf8-cpu-arguments-intercept": 1000,
+		"encodeUtf8-cpu-arguments-slope": 28662,
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+		"equalsByteString-cpu-arguments-constant": 245000,
+		"equalsByteString-cpu-arguments-intercept": 216773,
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+		"equalsData-cpu-arguments-slope": 12586,
+		"equalsData-memory-arguments": 1,
+		"equalsInteger-cpu-arguments-intercept": 208512,
+		"equalsInteger-cpu-arguments-slope": 421,
+		"equalsInteger-memory-arguments": 1,
+		"equalsString-cpu-arguments-constant": 187000,
+		"equalsString-cpu-arguments-intercept": 1000,
+		"equalsString-cpu-arguments-slope": 52998,
+		"equalsString-memory-arguments": 1,
+		"fstPair-cpu-arguments": 80436,
+		"fstPair-memory-arguments": 32,
+		"headList-cpu-arguments": 43249,
+		"headList-memory-arguments": 32,
+		"iData-cpu-arguments": 1000,
+		"iData-memory-arguments": 32,
+		"ifThenElse-cpu-arguments": 80556,
+		"ifThenElse-memory-arguments": 1,
+		"indexByteString-cpu-arguments": 57667,
+		"indexByteString-memory-arguments": 4,
+		"lengthOfByteString-cpu-arguments": 1000,
+		"lengthOfByteString-memory-arguments": 10,
+		"lessThanByteString-cpu-arguments-intercept": 197145,
+		"lessThanByteString-cpu-arguments-slope": 156,
+		"lessThanByteString-memory-arguments": 1,
+		"lessThanEqualsByteString-cpu-arguments-intercept": 197145,
+		"lessThanEqualsByteString-cpu-arguments-slope": 156,
+		"lessThanEqualsByteString-memory-arguments": 1,
+		"lessThanEqualsInteger-cpu-arguments-intercept": 204924,
+		"lessThanEqualsInteger-cpu-arguments-slope": 473,
+		"lessThanEqualsInteger-memory-arguments": 1,
+		"lessThanInteger-cpu-arguments-intercept": 208896,
+		"lessThanInteger-cpu-arguments-slope": 511,
+		"lessThanInteger-memory-arguments": 1,
+		"listData-cpu-arguments": 52467,
+		"listData-memory-arguments": 32,
+		"mapData-cpu-arguments": 64832,
+		"mapData-memory-arguments": 32,
+		"mkCons-cpu-arguments": 65493,
+		"mkCons-memory-arguments": 32,
+		"mkNilData-cpu-arguments": 22558,
+		"mkNilData-memory-arguments": 32,
+		"mkNilPairData-cpu-arguments": 16563,
+		"mkNilPairData-memory-arguments": 32,
+		"mkPairData-cpu-arguments": 76511,
+		"mkPairData-memory-arguments": 32,
+		"modInteger-cpu-arguments-constant": 196500,
+		"modInteger-cpu-arguments-model-arguments-intercept": 453240,
+		"modInteger-cpu-arguments-model-arguments-slope": 220,
+		"modInteger-memory-arguments-intercept": 0,
+		"modInteger-memory-arguments-minimum": 1,
+		"modInteger-memory-arguments-slope": 1,
+		"multiplyInteger-cpu-arguments-intercept": 69522,
+		"multiplyInteger-cpu-arguments-slope": 11687,
+		"multiplyInteger-memory-arguments-intercept": 0,
+		"multiplyInteger-memory-arguments-slope": 1,
+		"nullList-cpu-arguments": 60091,
+		"nullList-memory-arguments": 32,
+		"quotientInteger-cpu-arguments-constant": 196500,
+		"quotientInteger-cpu-arguments-model-arguments-intercept": 453240,
+		"quotientInteger-cpu-arguments-model-arguments-slope": 220,
+		"quotientInteger-memory-arguments-intercept": 0,
+		"quotientInteger-memory-arguments-minimum": 1,
+		"quotientInteger-memory-arguments-slope": 1,
+		"remainderInteger-cpu-arguments-constant": 196500,
+		"remainderInteger-cpu-arguments-model-arguments-intercept": 453240,
+		"remainderInteger-cpu-arguments-model-arguments-slope": 220,
+		"remainderInteger-memory-arguments-intercept": 0,
+		"remainderInteger-memory-arguments-minimum": 1,
+		"remainderInteger-memory-arguments-slope": 1,
+		"serialiseData-cpu-arguments-intercept": 1159724,
+		"serialiseData-cpu-arguments-slope": 392670,
+		"serialiseData-memory-arguments-intercept": 0,
+		"serialiseData-memory-arguments-slope": 2,
+		"sha2_256-cpu-arguments-intercept": 806990,
+		"sha2_256-cpu-arguments-slope": 30482,
+		"sha2_256-memory-arguments": 4,
+		"sha3_256-cpu-arguments-intercept": 1927926,
+		"sha3_256-cpu-arguments-slope": 82523,
+		"sha3_256-memory-arguments": 4,
+		"sliceByteString-cpu-arguments-intercept": 265318,
+		"sliceByteString-cpu-arguments-slope": 0,
+		"sliceByteString-memory-arguments-intercept": 4,
+		"sliceByteString-memory-arguments-slope": 0,
+		"sndPair-cpu-arguments": 85931,
+		"sndPair-memory-arguments": 32,
+		"subtractInteger-cpu-arguments-intercept": 205665,
+		"subtractInteger-cpu-arguments-slope": 812,
+		"subtractInteger-memory-arguments-intercept": 1,
+		"subtractInteger-memory-arguments-slope": 1,
+		"tailList-cpu-arguments": 41182,
+		"tailList-memory-arguments": 32,
+		"trace-cpu-arguments": 212342,
+		"trace-memory-arguments": 32,
+		"unBData-cpu-arguments": 31220,
+		"unBData-memory-arguments": 32,
+		"unConstrData-cpu-arguments": 32696,
+		"unConstrData-memory-arguments": 32,
+		"unIData-cpu-arguments": 43357,
+		"unIData-memory-arguments": 32,
+		"unListData-cpu-arguments": 32247,
+		"unListData-memory-arguments": 32,
+		"unMapData-cpu-arguments": 38314,
+		"unMapData-memory-arguments": 32,
+		"verifyEcdsaSecp256k1Signature-cpu-arguments": 35892428,
+		"verifyEcdsaSecp256k1Signature-memory-arguments": 10,
+		"verifyEd25519Signature-cpu-arguments-intercept": 9462713,
+		"verifyEd25519Signature-cpu-arguments-slope": 1021,
+		"verifyEd25519Signature-memory-arguments": 10,
+		"verifySchnorrSecp256k1Signature-cpu-arguments-intercept": 38887044,
+		"verifySchnorrSecp256k1Signature-cpu-arguments-slope": 32947,
+		"verifySchnorrSecp256k1Signature-memory-arguments": 10
+	}
+}
+