(13 years, 9 months ago)
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I add my congratulations to the Select Committee on Transport on its most excellent report. If I may say so, however, there is one area of the report that could have done with strengthening a bit—high-speed rail. I have already made my position clear: I do not support High Speed 2. As the report makes clear, the estimated cost of the London-west midlands line is about £11 billion, with the total cost rising to £69 billion for a full 1,500-mile network. High-speed rail is therefore a major part of the long-term investment in our railways, and I believe that it should be heavily scrutinised before we commit so much public money to it. I appreciate that the report mentions some of the arguments surrounding high-speed rail, but I believe that more time should have been given to it and it should have been studied in greater depth, given the potential cost to the country over the long term.
Given that in 2007 the Department for Transport broadly accepted the Eddington transport study, which concluded that high-speed-rail would be poor value for money in the UK, it is incumbent on Parliament to ask what has changed so much in the space of the last three years to reverse that conclusion.
Apart from anything else, there has been a change of Government. We are taking a forward-looking approach, so as to address the transport needs of our country over the next century. We have to make this upgrade to deal with the massive growth of future years. It is the best way to deliver it in a sustainable way.
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.