Yorkshire Business Could Miss Out On £12bn Economic Benefits

Yorkshire could miss out on huge financial benefits unless of course the government funds Network Rail’s £560m Northern Hub programme, according to a new research. The Yorkshire Rail Network Research has highlighted up to £12bn of financial benefits that could be unlocked by means of measures to increase Yorkshire’s rail connectivity.

Commissioned jointly by Metro, South Yorkshire Passenger Transport Executive and Leeds City Area, the report located these benefits would result from quicker journeys and enhanced organization links, far better commuter companies, and far more capacity for freight. The Northern Hub is a package deal of rail improvements making it possible for as several as 700 far more trains a day to run on railways across the North. This equates to about 44 million far more passenger journeys every year and could make up to 30,000 regional jobs.

“Our research gives backing for rail network improvements that would contribute to Yorkshire’s financial development, and we want to work with the Division for Transport and the rail industry to create a complete long-term investment program for the Leeds Sheffield locations so that the optimum financial benefits are realised,” said Metro chairman councillor James Lewis.

South Yorkshire Integrated Transport Authority chairman councillor Mick Jameson additional: “The report before the ITA suggests that quicker trains in between Sheffield and Leeds are badly essential and these will demand investment at the two Leeds and Sheffield stations.

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Insider‘s Back the Bid campaign. We believe that improving the rail links between Manchester, Leeds and Sheffield, the first and most integral element of Network Rail’s £530m Northern Hub proposal, is crucial for the continued economic prosperity of the North.