Every pound spent on High Speed 2 will deliver two pounds worth of benefits, the Government said on Tuesday when it presented its strategic case for the project.

This provides a similar benefit to cost ratio as Crossrail and other major infrastructure transport schemes such as the Jubilee Line Extension and Thameslink, it claimed.

Research by Network Rail and Atkins has also pointed out that scrapping the scheme and upgrading existing long distance routes instead would result in 14 years worth of weekend closures and deliver only a fraction of the additional capacity of HS2.

Transport Secretary Patrick McLoughlin said: “Now is the time to be bold and deliver a world class railway which Britain deserves. Future generations will not forgive us if we fail to take this opportunity.”

Business group CBI welcomed the report. Chief policy director Katja Hall said: “This new business case goes some way towards helping people understand the need for HS2 and will also reverse some of the damage done by Ministers’ previous obsession with journey times.”

West Midlands transport authority Centro’s chief executive Geoff Inskip added: “This report shows how important it is to press on and build HS2 to deliver jobs and investment.”

Consultant WSP’s UK rail sector director Dave Darnell said: “The commotion we saw earlier in the week with the extreme weather was a poignant reminder of just how fragile our congested rail network is and how heavily we rely on it. HS2 will give us more capacity and also flexibility to strengthen this vital asset.”

(Image: HS2)

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