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East London Rail Study

Volume 174: debated on Monday 18 June 1990

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To ask the Secretary of State for Transport (1) what representations he has received concerning the release of any economic evaluation of the east London rail study; and if he will make a statement;(2) if he will publish any cost/benefit analysis of the east London rail study commissioned by his Department; and if he will make a statement.

A small number of representations have been received about the release of details of the economic evaluation of the Jubilee line extension including some from hon. Members. This material was not released at the time the east London rail study report was published last July as it might have prejudiced negotiations with developers about their contributions to the cost of the line. However, now that agreement has been reached about the level of these contributions, I can now release this information. The cost benefit analysis which lay behind the ELRS report was as follows.

Present value of costs and benefits for the Jubilee line extension from Green Park via (inter alia) Waterloo, Canary Wharf and Greenwich Point to Stratford

1988–89 prices discounted to 1989

£ million

Capital costs(690)
Operating cost(90)
Additional revenue290
Funding gap(490)
Passenger benefits730
Road user benefits200
Net benefit440

Benefit: cost ratio