High Speed 2

Part of the debate – in Westminster Hall at 5:18 pm on 10th July 2019.

Alert me about debates like this

Photo of Nusrat Ghani Nusrat Ghani Parliamentary Under-Secretary (Department for Transport), Assistant Whip (HM Treasury) 5:18 pm, 10th July 2019

I am sorry, I was not in the House in 1990 when that was reported; I am talking about 2026 and 2033, when we will connect faster trains to Scotland.

I will now discuss some real live cases of how HS2 is bringing greater economic benefits than we thought would be possible over a decade ago. HSBC, for example, has brought 1,000 jobs to Birmingham by moving its retail and business banking headquarters. Other cities along the line are seeing benefits from businesses which are relocating, including Burberry investing in a new factory in Leeds, claiming proximity to the HS2 station as a key factor in its decision. Freshfields and EY now employ 1,000 people in Manchester. Locally, places are gearing up for the arrival of HS2: Toton has plans for it to facilitate the Toton innovation campus, with the potential for up to 10,000 new jobs and a range of new housing; and the Cheshire science corridor enterprise zone, which was launched in 2016, aims to create 20,000 jobs by building a golden triangle with Liverpool and Manchester.

I fear that I am running out of time, but the business case is clearly solid: there is one budget and one timetable—HS2 will continue on track. My right hon. Friend the Member for South Northamptonshire asked me to confirm at the Dispatch Box what the budget and the timetable are. I stand here to state confidently that the budget is £55.7 billion and that the timetable is 2026 and 2033. I look forward to continuing this debate on Monday afternoon, when we hope that the Bill will return to the Floor of the House.

Question put and agreed to.

Resolved,

That this House
has considered the business case for High Speed 2.

Sitting adjourned.