Transport secretary Patrick McLoughlin is right to say that benefit:cost ratios (BCRs) do not mean everything if a transport project has a development function (‘BCRs don’t mean everything’ LTT 27 May). But that does not help him ward off the criticism that HS2 does not deserve even the unimpressive BCR officially calculated. HS2 does not have an important development function, and as a way of closing the North-South divide it could even be counter-productive.
BCR calculations...
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