Evidence B

High Speed Rail

> Transform the UK's economic geography
> Bring cities closer
> Enable businesses to operate more productively
> Support employment and regeneration
> Provide a genuine alternative to domestic aviation
> Create a platform for sustainable economic growth and prosperity
> Cost £32bn
> Would generate wider benefits of £44bn as well as revenues totaling £27bn
> Would enable the UK's urban centres to attract new businesses and directly access the economic strength of London and the south east
> 40 000 jobs, and contribute to major regeneration programs in Britain's inner cities

High Speed Rail is projected to generate significant local and national benefits, including:

• Boosting the West Midlands' economy by £1.5 billion pa.
• Delivering 22,000 jobs to the West Midlands.
• Up to 2,000 operational and maintenance jobs.
• Travel time of 45 minutes between Birmingham and London, down from the current 83 minutes.
• Travel time of 38 minutes between Birmingham Interchange Station and London from the current 70 minutes.
• Travel times of 41 minutes between Birmingham and Manchester (reduced from 90 minutes) and 57 minutes between Birmingham and Leeds (reduced from two hours).
• Centro has drawn up timetables for new and enhanced passenger and freight services using capacity released on existing lines by HS2
• Reduced carbon of up to a million tonnes a year by 2055.