High speed rail could link us to extra billions

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Around 33 per cent of firms in High Peak which support plans to bring High Speed Rail to the East Midlands believe that their business will benefit from quicker journey times to London and other UK core cities.

New research from the Derbyshire and Nottinghamshire Chamber of Commerce has also found that 33 per cent of High Peak firms believe High Speed Rail will create increased business opportunities, whilst a further 17 per cent hope it will bring more efficiency savings.

A further 50 per cent think it will lead to an increase in visitors to High Peak, whilst 33 per cent believe the proposals will lead to more local rail services.

The first phase of the High Speed Rail plan will be to create a new direct line between London and Birmingham.

The Coalition Government is still consulting over its plans for the second phase of its High Speed Rail proposals, but ministers’ preferred option for the link north of Birmingham would be for two separate corridors – one direct to Manchester connecting to the west coast mainline, and the other via the East Midlands and South Yorkshire and into Leeds.

This is the option that the Chamber will support on behalf of local businesses in its response to the Government consultation.

Previous Chamber research found that around 97 per cent of local firms support High Speed Rail and believe that the East Midlands economy would benefit from being connected to a UK – and European – network.

It is thought that the proposed East Midlands spur could unlock economic benefits of as much as £3.8bn in the East Midlands.