By Harry Mottram: A promise of 100,000 jobs and billions pumped into the economy sounds just what the flat lining British economy needs. The Chancellor of the Exchequer Rachel Reeves’ announcement that Heathrow Airport is to have a third runway will cheer many in the construction, hospitality and service industries. As will her announcements that there should be rail links between Britain’s proposed ‘silicon valley’ betwixt Oxford and Cambridge along with new housing to help accommodate the workers that it will attract. The chancellor is also backing the mayor of Manchester, Andy Burnham’s plans for the redevelopment of Old Trafford, which she says promises to create housing and commercial development around a new stadium and added the Government is backing the Wrexham and Flintshire investment zone, which will be backed by major businesses. Other projects to get the green light includes the Lower Thames Crossing, second runways for Luton and Gatwick airports, and a new station on the East Coast Main Line at Tempsford to link up with the East West rail line with a link to Milton Keynes eventually.
What wasn’t mentioned were rail links between towns and cities in the north of England, the expansion or otherwise of HS2 to the north, a plan to connect the east of Scotland to two points in the northeast of England and the project involves building two subsea links with a combined capacity of 4,000MW. A rail line linking Dumfries to Stranraer would make sense linking up England at Carlisle to Northern Ireland and the ferry – and the line is still there covered in brambles. There was also no mention of upgrading the A303 to the South West with a dual carriageway to remove congestion around Stonehenge, Ilminster and the Blackdowns, or a railway north of Dartmoor from Exeter to Cornwall, or indeed the Severn barrage and road and rail links to Wales. Speaking of which the M4 will still only be two lanes in South Wales which means long tailbacks around Newport. And there were no plans to reopen more branch lines such as the Portishead to Bristol railway anytime soon – another missed opportunity. And the list of branch lines that could reopen include the former Cheddar Valley line linking Yatton to the Waterloo line near Shepton Mallet and Seaton Junction to Colyton in Devon.
Somerset’s Ian Carrotte of ICSM said the projects outlined were welcome for businesses but felt the list could and should have been longer. He said: “The new runways will help firms in the South East of England but we need to see infrastructure improved across the country. Planning regulations for reopening former railway lines need to be eased along with red tape on planning applications – Heathrow’s third runway has had review after review over the years costing millions. Isambard Kingdom Brunel would never have been able to building all those railway lines in the 19th century if he had to have had to contend with the red tape we have today.”
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ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. www.icsmcredit.com. Ian.carrotte@icsmcredit.com
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