A new study has revealed that with investment in the Reading-Waterloo rail line, not only would journey times and frequency improve, but there could also be a significant financial benefit that could amount to as much as £183 million a year! The study, commissioned by a consortium that includes the Thames Valley Berkshire Local Enterprise Partnership (LEP), was submitted their findings to Network Rail as part of their Wessex Route Study.
The study found that with improvements, there could be a 25% decrease in the average journey time for all stations along the route, resulting in a wider economic benefit of around £66 million to £91 million a year. Not only that, if trains were increased from two per hour to four per hour, there would a further potential financial benefit amounting to an estimated £122 million to £183 million a year. Add a new loop from the line via Heathrow, upon which existing train services would run, and there could be another economic benefit of £16 million to £27 million; add a new spur into Heathrow itself, with two trains running an hour, and there is yet more economic benefits of roughly £58 million to £88 million.
These figures are astounding and show’s what can happen with a little investment in the right places could potentially reap huge dividends. Thames Valley Berkshire LEP member and joint chairman of the Berkshire Strategic Transport Forum, Steve Capel-Davies, said: “We have made the delivery of Western Rail Access to Heathrow scheme our top priority. However, we recognise the urgency to explore south-west rail access to Heathrow and improved frequencies and journey times on the Reading to Waterloo line.”
With estimated economic benefits at this level, anybody would be crazy not to be taking them seriously!