Transport spending ‘could increase five-fold’
PLANNED spending on transport infrastructure in the North could increase by up to five times if the One North rail investment plan unveiled this week gets the green light.
New data from Cheshire construction intelligence specialists, Barbour ABI, shows £3.2bn of planned spending on transport infrastructure in the North East, North West and Yorkshire & the Humber already, forming part of the Government’s national pipeline.
If the plan – ‘One North: A Proposition for an interconnected North’ – unveiled last week is given the go-ahead the investment figure would quintuple to £15bn over the next 15 years.
The report, which has been formulated by a coalition of key northern cities including Manchester, Liverpool, Leeds, Newcastle and Sheffield, is a direct response to HS2 chairman Sir David Higgins’ original report, HS2 Plus, and the Chancellor George Osborne in his ‘Northern Powerhouse’ speech in June.
Michael Dall, lead economist at Cheshire Oaks-based Barbour ABI, commented: “These figures clearly demonstrate the economic benefit the One North plan could bring to the North of England, creating much-needed growth and jobs and a transport infrastructure to rival that of London and the South East.
“It’s also worth remembering that these plans do not include the northern phase of HS2 worth £21.2bn, which would undoubtedly be a game changer if it goes ahead.”
