High Speed 2
Debate between Liam Byrne and Craig Tracey(5 years, 5 months ago)
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Liam Byrne (Birmingham, Hodge Hill) (Lab)
It is an honour to serve under your chairmanship, Mr Hosie. I congratulate the right hon. Member for South Northamptonshire (Andrea Leadsom) on securing the debate and on giving the House a chance to confront a couple of important choices. She is right to say that nettles need to be grasped and bullets bitten, but I think she has chosen the wrong nettles and bullets, and I will explain why in the next few minutes.
As is traditional now, the argument against HS2 is couched in terms of value for money. In any value-for-money calculation, the money is easy to calculate, but the value is much harder to put your finger on. There were arguments in a previous debate about the Treasury Green Book, which is not a wide-ranging analysis. If we measure what we treasure, we will clearly see that HS2 is one of the best value-for-money projects that this country has contemplated for many years.
Craig Tracey (North Warwickshire) (Con)
Will the right hon. Gentleman give way?
Liam Byrne
I will in a moment.
Coming from Birmingham, what I treasure above all is jobs. We have had the slowest jobs recovery since the financial crisis of any city region, and HS2 will bring lots and lots of jobs, not at some distant point in the future but over the next five years. It will bring something like 33,000 jobs around Curzon Street and 77,000 jobs around Birmingham Interchange, in addition to the 30,000 jobs that will be created on the line at peak. This is the most important fiscal stimulus outside London and the south-east. Indeed, if we were to cancel HS2, I would bet my bottom dollar that we would put the midlands back into recession within a year.