High-speed rail benefits downgraded
A new report has revised the benefits of the planned HS2 high-speed rail line, saying they will be lower than previous estimates.
In August 2012, it was stated was that the benefits of the £50 billion line would be £2.50 for every £1 spent.
However, increased costs have now led to a revised estimate of £2.30 for every £1 spent.
The new figures are included in a report published by HS2 Ltd and are based on a recalculation of the number of business people using the line and the amount of work they complete while they are travelling.
Channel 4 News reported Transport Secretary Patrick McLoughlin still wants HS2 to go ahead, although shadow transport secretary Mary Creagh told the programme: "We cannot give a government that is mismanaging this, or any project, a blank cheque."
The estimated cost of the scheme – planned to start in 2026 – is £42.6 billion, with a further £7.6 billion on trains.
It would reduce journey times from London to Birmingham, Manchester and Leeds to 49 minutes, one hour eight minutes and one hour 22 minutes respectively.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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