Benefit:cost ratios (BCRs) should not be the over-riding consideration if a transport project has a development function, according to transport secretary Patrick McLoughlin.
Speaking about HS2, McLoughlin said: “We will be building something much bigger than a new railway. We’ll be investing in our economic prosperity for the next half century and more. Now sometimes perhaps there’s a feeling that everything has to be done on a 30-year basis [appraisals are typically 60...
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