Cheshire and Warrington LEP brand cancellation of HS2 as “a major blow” that will deprive the region’s economy of £2bn billion per annum.
HS2 would have had a transformational impact
In statement a Cheshire and Warrington LEP spokesperson said: “The decision to cancel HS2 is a major blow for Cheshire and Warrington, costing its economy of £2bn billion a year.
“HS2 would have had a transformational impact across Cheshire and Warrington, creating 27,000 new jobs, delivering 6 million sq. ft of new commercial floor space and 25,000 new homes and a catalyst for the LEP’s unwavering ambition to deliver a growing, sustainable, healthy and inclusive economy.
“The decision will mean the sub-region fails to realise the potential HS2 offered to unlock significant housing, employment and productivity gains.
“We will now be seeking more detail and looking carefully at the Prime Minister’s promise to recycle the £36bn that he says will be saved from HS2 and how the projects he announced will help Cheshire and Warrington.
“Crewe was anticipating a £750m increase per annum in GVA from HS2 and we will want to understand what projects the government is proposing that will replace this loss.
“Committing to investment in major infrastructure pays dividends. Whilst large-scale projects will always be challenging to deliver, they bring significant long-term economic benefits.
“Investment in rail and taking freight off our roads is necessary to help achieve our carbon reduction targets.”