Financial backers get on board high-speed rail plan

Proposals for a high-speed rail link between Scotland and England have been tabled at a meeting between members of the Scottish Parliament (MSPs), local authorities, business groups and transport bodies.

MSPs have been advised as to the economic benefits of a rail link between London, Glasgow and Edinburgh – cutting the journey time from over 4 hours 30 minutes to around 2 hours 15 minutes.

Proponents claim that a high-speed rail link would bring economic benefits of more than £7 billion to the Scottish economy. With construction costs of the line predicted at around £31 billion, it is believed the UK would enjoy a financial boost of over £60 billion.

In addition, a number of new jobs would be created by the project. The link, it is claimed, would also ensure that Scotland remains a competitive international base, with Edinburgh and Glasgow connected by high-speed links to the European mainland.

In an address to the Scottish Parliament transport committee, Ron Hewitt, chief executive of Edinburgh Chamber of Commerce, explained the need for the rail link: "This is one of the ones you would say is a bit of a no-brainer. I lived in France and saw the contribution the TGV makes to life in France. It's enormous, and I don't mean just the social and cultural life, but also from a business point of view. That's what we want and we've been denied it up to now."

Gary Clark, head of policy and public affairs with the Scottish Chamber of Commerce, supported Mr Hewitt’s optimism, seeing the project as being "a key step forward for the future".

Mr Clark added: "At the moment we have a rail industry, a rail network which is at or near capacity, and unless we do something to improve that capacity, we will end up with a railway system designed”.

The plan has the support of the Scottish National Party (SNP) government, with Alex Salmond agreeing to fund the Scottish section of the project. The SNP hope that a high-speed rail link would tempt more European tourists north of the border, with ease of travel between Paris, London and Scotland. The proposal would also help the Scottish government meet their target of a 50 per cent rise in tourism by 2015.

Conservative leader David Cameron has also backed the idea, stating that he will consider the plan if his party gain power at the next general election.

The environmental benefits of the scheme have also been raised with Owen Kelly, chief executive of Scottish Financial Enterprise, who said that if journey times from Glasgow or Edinburgh to London could be cut to under three hours, people “would be mad to fly and nobody would do that. If we're serious about competing internationally this is the kind of thing we're going to have to do."

The rail link, however, has not been endorsed by everyone. A report compiled for Transport Scotland, an organisation consisting of environmental and transport bodies, challenges the need for the project and claims that there is in fact potential for climate damage.

The report highlights the possible rise in pollution tied to an increase in journeys across the country. The project’s potential to cut domestic flights is also challenged: high ticket prices, which would be needed to cover the high costs of the project, are predicted to prove an obstacle to any environmental benefits.