Economic Affairs Committee - First Report
The Economics of High Speed 2

Here you can browse the report which was ordered by the House of Lords to be printed 10 March 2015.


Terms of Reference


Our main conclusions and recommendations

Chapter 1: An introduction to High Speed 2

"This is the age of the train"

What is High Speed 2?

The reasons for building HS2

Should HS2 be part of a wider plan?

Chapter 2: The cost of HS2

Cost of construction

Cost of complementary projects

The effect of speed on the cost

Cost of disruption

Expected net cost of HS2 to the Government

Chapter 2: Conclusions and recommendations

Chapter 3: Demand and fares modelling

How demand is modelled

Forecast demand—'without HS2 scenario'

Forecast demand—'with HS2 scenario'

Demand forecasts for other high speed railways

Level of fares on HS2

Chapter 3: Conclusions and recommendations

Chapter 4: Capacity

Explanation of the capacity problem in the Strategic Case

Overcrowding on long-distance services

Overcrowding on commuter services

Space for commuter and freight train paths

Chapter 4: Conclusions and recommendations

Chapter 5: Alternatives to provide capacity

The Government's assessment of other ways to increase capacity

Other alternative solutions to the capacity problem

Have the Government considered all the options?

Has the Government properly considered the alternatives to provide additional capacity?

Chapter 5: Conclusions and recommendations

Chapter 6: Will HS2 stimulate economic growth?

How is the economic impact of HS2 assessed in the Economic Case?

Does transport infrastructure stimulate growth?

How will HS2 affect economic activity in the UK?

How can the benefits of HS2 be maximised?

The effect of HS2 on freight

Chapter 6: Conclusions and recommendations

Chapter 7: Is HS2 the best way to stimulate economic growth in the north of England?

Improving regional connectivity

Building HS2 from north to south?

The importance of investment in infrastructure outside London

Chapter 7: Conclusions and recommendations

Chapter 8: Estimating the benefits of HS2

Cost-benefit analysis of HS2

The transport user benefits of HS2

Values of travel time savings

Business travel on HS2

Chapter 8: Conclusions and recommendations

Chapter 9: The questions for Government

Appendix 1: List of Members and declarations of interest

Appendix 2: List of witnesses

Appendix 3: Call for evidence

Appendix 4: List of correspondence

Evidence is published online at and available for inspection at the Parliamentary Archives (020 7219 3074).

Q in footnotes refers to a question in oral evidence.

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