Following the recommendations of the independent Oakervee review on the benefits and impact of HS2, the Prime Minister gave the go ahead to HS2 alongside major improvements to local transport networks across the country. Construction work on Phase One of HS2 has now commenced, while Phase 2a has also achieved royal assent.
HS2 will form the backbone of the UK’s transport network, delivering a significant increase in rail capacity, with hundreds of thousands of extra seats. It will cut journey times, bring our biggest towns and cities closer together, enhance North-South connectivity, boost productivity in the Midlands and the North, and crucially it will help to spread prosperity more evenly across the country. HS2 will also play an important role in delivering the Government’s net zero carbon objectives.
I welcome that the Infrastructure and Projects Authority believes Phase 1 of HS2 can be delivered within its current projected cost of £35-£45 billion in today’s prices. The Full Business Case for Phase One was approved in April this year which included a robust cost-benefit analysis. Current costs will also be interrogated to identify where savings can be made. Indeed, HS2’s benefits must be matched by tight cost controls going forwards. I am pleased that Parliament will receive regular 6-monthly progress reports, the first of which is due later this year, which will set out the latest cost and schedule position.
HS2 will play an important role in the UK’s transition to a net-zero carbon economy by 2050. I understand that HS2 will offer some of the lowest carbon emissions per passenger km, seven times less than passenger cars and 17 times less than domestic air travel in 2030. Indeed, HS2 is expected to help reduce the number of cars and lorries on the road and cut demand for domestic flights. It is estimated that the total carbon emissions produced by both constructing and operating Phase One for 120 years would be the same as just one month of the UK's road network.
While I appreciate the concerns raised, I believe the enormous potential of HS2 for the whole nation outweighs its costs.
