Stephen Timms
Main Page: Stephen Timms (Labour - East Ham)Department Debates - View all Stephen Timms's debates with the Department for Transport
(12 years, 10 months ago)
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Susan Elan Jones
I totally agree with the hon. Lady. If hon. Members will excuse me, I must try to make a little progress because otherwise they will not be able to make their speeches in the time available.
It is not just Wales that stands to benefit. Ninety business leaders in Yorkshire recently wrote to the Secretary of State for Transport to tell him that the project is vital. The Sheffield city region local enterprise partnership said that 91% of 200 firms surveyed agreed that the benefits of HS2 to the city would be huge. The Northern Way alliance of regional development agencies from the north of England said that it valued the wider economic benefits of north-south high-speed rail at £10 billion, and described the high-speed link as
“an opportunity to create a new economic geography”.
The Scottish Minister for Housing and Transport said:
“the case for high-speed rail…is compelling, robust and clear”.
Manchester council says that high-speed rail will enable local business to compete and will boost tourism, and Stoke-on-Trent council says that it will open up national and international markets. Liverpool supports it and Birmingham supports it. The message from across the UK is loud and clear. We cannot let a small group of people railroad this debate. People welcome major investment in infrastructure to bring about new jobs and new business.
Stephen Timms (East Ham) (Lab)
I agree with my hon. Friend about the new economic geography. On Rotterdam to Rhyl, does she agree that if the London stop were Stratford and the trains bypassed St Pancras, the length of the journey from Rotterdam to Rhyl and the other journeys she had mentioned could be significantly reduced, which would have widespread advantages?
Susan Elan Jones
I am certainly open to that idea, which I had not previously thought about. In terms of UK-wide economic benefits, HS1 offers some concrete feedback. Despite some criticism, independent reports have put the value of investment attracted by the line at £20 billion, which is 40 times more than original estimates. The operation has not been sold at a loss, whatever the HS2 Tamworth Action Group says. The lease has been sold, and will be re-sold again and again on expiry. Two more sales will bring the scheme into profit, even without taking the massive wider economic benefit into account.