THE Hope Valley rail line between Manchester and Sheffield is to benefit from a multi-million pound investment announced in the budget yesterday (Wednesday).
Chancellor George Osborne revealed that the government will support Network Rail with a further £130 million investment for the Northern Hub rail scheme, which aims to stimulate economic growth in the region through faster, more frequent rail services.
The funding means capacity on the Hope Valley line will be increased, enabling the number of fast trains to double.
Network Rail chief executive David Higgins said: “The announcement of further funding for the initial stages of the Northern Hub is a welcome show of confidence in rail bringing benefits to passengers as well as driving economic growth.
“To realise the project’s total value of £4bn to the Northern economy and create between 20,000 and 30,000 new jobs, the final stages of funding will need to be supported in the rail budgets to be announced later this year.”