Jim Shannon – 2015 Parliamentary Question to the Department for Transport
The below Parliamentary question was asked by Jim Shannon on 2015-12-15.
To ask the Secretary of State for Transport, if he will make a comparative assessment of the potential economic benefit of High Speed 2 plans and the proposals by Transport for the North.
Mr Robert Goodwill
HS2 will dramatically improve connectivity from north to south. Northern Powerhouse Rail will do the same from east to west. These two ambitious programmes, developed side-by-side, will help to rebalance the economy by transforming rail travel to, from, and within the North.
The Department and Transport for the North (TfN) are currently developing options for delivering the transformational rail connectivity in the north of England set out in the Northern Transport Strategy, and aim to have an understanding of the relative scale of costs and benefits of these options in autumn 2016.
As outlined in the recent HS2 Economic Case published in November 2015, the benefits of the full HS2 Y-Network are estimated to be £72.8bn (2011 prices, PV). This analysis calculated that the benefit cost ratio (BCR) of HS2 is 2.2 for the full Y-network, including wider economic impacts. Therefore, over £2 worth of benefits are expected for every £1 spent which represents high value for money.
