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It is a pleasure to serve under your chairmanship, Dr McCrea, and I am delighted to see that my right hon. Friend the Minister of State is present. I am sure that she has lots of better things to do on an afternoon such as this, and it is a great pleasure to have her and other colleagues, all of whom are friends, in the debate.
There have been a number of Government announcements about rail investment over the past few days, so today’s debate is most timely. Let me state from the outset that I stand fully behind the Government’s proposed investments in our rail and high-speed rail networks. In order to allow our economy to compete with its European and global counterparts, it is vital that we have a truly world-class infrastructure.
I shall begin my remarks by discussing briefly the issue of western access to Heathrow—a matter of interest to my constituents in the Cotswolds—and I will then discuss the connectivity, or lack of, between High Speed 2 and Heathrow. It is, of course, possible for my constituents, and others in the west and south-west, to reach Heathrow by rail, but the requirement to change trains acts as a huge disincentive so people travel by road instead. For example, of the 650,000 passenger journeys from Oxford to Heathrow each year, an overwhelming number—98.9%—take place by road, rather than by rail. It is therefore important that all necessary steps are taken to encourage more people from the west of the country to access Heathrow by rail.
The creation of a spur from Reading to Heathrow will benefit those in the immediate vicinities of Reading and Slough, but for those further afield, at least one change of trains will be required. In addition to the Reading link, the creation of a new Heathrow station and a new hub with fast transport links to the main airport would provide a direct rail link to Heathrow for people in the west, south-west and Wales. Such a hub would act as a gateway to the airport, with connections by road as well as rail. A significant amount of the check-in and logistical facilities could be hosted at the new hub, allowing a complete transformation of the terminal structure at Heathrow airport. That would allow a far more efficient airport structure, with significant benefits for passengers and freight services—that is vital given that Heathrow is responsible for handling over half of the UK’s total air freight.
Given that we are in the process of electrifying the Great Western main line, we have a huge opportunity to create a fantastic rail and aviation link between the east and west of the country, with potentially huge benefits for people and businesses in the west, south-west and Wales. In my view, that goes hand in hand with the construction of HS2, which is the most costly single project ever envisaged by the Government.
I apologise for intervening so early, but I may have to go to the other Chamber for a debate. Will the hon. Gentleman explain where he thinks such a hub would be located? What are his views on the best options for the hub’s location?
I will explain, but it was not my purpose to favour any one particular commercial option in this speech. A site is available within the vicinity of the interchange of the M25 and the M4, and there may well be others. It is a significant site of about 500 acres of largely disused land, so a possibility is available.
I believe it is.
As I was saying, HS2 is the most costly single project ever envisaged by the Government, and will probably require more than the £34 billion often quoted. That figure is based largely on the assumption that 70% of HS2 users will be leisure passengers, and that seems a somewhat optimistic projection of income given that those people are price sensitive rather than time sensitive. To provide the House with a comparison, £34 billion compares with the £25 billion cost of the Trident replacement, and with the £17 billion for the Queen Elizabeth class aircraft carriers and aircraft. HS2 is, therefore, a massive capital infrastructure project.