Rail Investment
Debate between Paul Maynard and Chris White(13 years, 2 months ago)
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Chris White
I thank my right hon. Friend for her comments.
If I may pursue my argument further, there are still some questions to be asked—such as whether the assumption of background growth in demand of 133% is truly realistic; such as whether potential competition from conventional rail has been taken into consideration when calculating the returns to be generated by this investment; such as whether new developments in technology, including video conferencing, online communication and information sharing, will seriously reduce the need for travel.
Large countries such as China are considering whether there are clear benefits to high-speed rail. A report by The Economist only two weeks ago entitled “On the wrong track” highlighted the fact that many of the newly added lines are making hefty losses and are thought to be operating at under half capacity. The Chinese Academy of Sciences has asked the Chinese Government to reconsider the case for investment in high-speed rail.
Paul Maynard
Does my hon. Friend agree that there is a crucial difference in that we have freedom of movement, but China does not, which slightly adjusts market demand?
Chris White
I agree with that specific point. However, if China, which has an economy twice the size of ours, is considering whether high-speed rail gives value for money, despite the point made by hon. Friend we should think again.
As the Eddington transport study highlighted, it is not that Britain’s transport system is not quick enough, but rather that it is extremely dense and we need greater investment in capacity.