Lord Watts
Main Page: Lord Watts (Labour - Life peer)Department Debates - View all Lord Watts's debates with the Department for Transport
(12 years, 7 months ago)
Commons ChamberI can confirm that when we look at the key people pushing for this scheme, we notice that the key economies and great cities in the north will see the benefits. The monetised total value is upwards of £40 billion, even £50 billion. Ultimately, however, we must recognise that that calculation takes place over a 60-year time frame. Anybody building the railways back in Victorian times would never have counted the benefit we get from them today, which is very real, and the potential benefit of HS2 is significant.
Does the Secretary of State really think that people will believe the costings she has set out, given the past history of building railways and Government schemes? Will she give an assurance that the route will be extended to the north-west as, frankly, most people believe that they have more chance of travelling in the Tardis than on HS2?
In terms of costs, there is safety in two things. High Speed 1 was delivered on time and on budget by the last Conservative Government. I aim to have a much better performance than we saw from the Labour Government on the west coast main line, where a £2 billion planned upgrade mushroomed to £9 billion. Finally, I can assure the hon. Gentleman that his constituents will see the benefit of phase 1 from day one. In many cases, the HS2 trains will be through-running trains that, having saved that time on the high-speed network, will continue their journey further north on conventional lines. I think that will benefit far more cities than just London and Birmingham.