CHAMBER NEWS
Chamber and Midlands Connect react to latest HS2 developments
Following the leaking of a draft report published by the Financial Times which focuses on the predicted costs of delivering HS2, Scott Knowles, Chief Executive at the Chamber, said: “The full Oakervee review now needs to be published and HS2 delivered in full, without delay. While costs and value for money are important considerations, there is a clear and strong economic case for delivering all phases of HS2. “For far too long businesses both
here in the East Midlands and across the UK have had to cope with heavily congested Victorian- era railways. Businesses count the cost of this in delayed journeys, overcrowded trains, uncertain deliveries and unreliable services. “The delivery of critical
transformational schemes, including Midlands Engine Rail and Northern Powerhouse Rail, also rely on the connections that HS2 will make. Reducing the scope of this project would put at risk development plans across the country. “HS2’s importance goes far
beyond train services. Its anticipated completion is already attracting investors and will continue to attract investment to surrounding areas, rejuvenate local economies and create opportunities for businesses across the supply chain; with many firms in the East Midlands telling us they are primed and ready to take advantage of such opportunities. “There can be no more tinkering
around the edges of our rail network. It is clear that bringing HS2 to fruition in its entirety is crucial to giving our region – and indeed the country – the connectivity it both needs and deserves.” Meanwhile, Midlands Connect Chairman Sir John Peace has written to the Prime Minister Boris Johnson, urging him to publish the Oakervee review in full as soon as possible, and warning him again that any delay or downgrade of High Speed Two would be a betrayal of the Midlands and the North. In the letter, Sir John Peace told
the Prime Minister to publish the full Oakervee review as soon as possible to end uncertainty. He said: “The tone of the
Oakervee review leak in the Financial Times is of serious concern. Further leaks and uncertainty are simply
46 business network February 2020
‘To delay and downgrade HS2 north of Birmingham would be a betrayal of the Midlands and the North. We need a modern, fast and reliable railway’
unacceptable. The time has come to release the review and give the Midlands, our businesses and investors the certainty we need to plan for a bright future. “To delay and downgrade HS2
north of Birmingham would be a betrayal of the Midlands and the North. We need a modern, fast and reliable railway to link our great towns and cities sustainably. “The cost is high, but the need is
even greater. You have said yourself that HS2 is likely to cost over £100bn. That figure is reached simply by adding two per cent inflation to the £88bn that HS2 Chairman Allan Cook estimated in the Autumn. “I met with and wrote to Douglas
Oakervee several times during his review. I made it clear that HS2’s current economic case greatly
underestimates the full economic benefits of the project. It ignores development plans around new high speed stations across the Midlands and the North. “Any further delay or
downgrades of the project will send the wrong message to the people of our region, but it will also send the wrong message to foreign investors who see Britain as an opportunity for growth after Brexit. “We need HS2 more than ever. I
would welcome the opportunity to meet you at your earliest convenience and allay any fears
you may have about pushing ahead with this vital project." Adam Marshall, Director General
at the British Chambers of Commerce, added: “Our business communities want to see HS2 delivered in full without further delay. “This project is an investment
that will transform the capacity of our railways and the potential of so many areas across the UK. While there can be no blank cheque, cutting the project back would put development and investment plans across the country at risk.”
Sir John Peace
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