Oreo
The point is, that this could well be a better outcome for those regions than ever HS2 would have been.Let’s hope so.
I'm afraid not. What the Northern Powerhouse Independent Economic Review showed is that you could get significantly over £100 billion of economic benefit from delivering HS2 and Northern Powerhouse Rail, every year from 2050.
This would have paid back the cost of the integrated Rail Plan, those lines East to West and finishing HS2; the combined network. Every year we would get the benefit on what had been spent. The first year basically pays for it and every year after that is bonus.
I really don't think Sunak's not yet planned ideas will come close. This is a disaster for the North and no doubt for the Midlands as well. This will shrink the size of the Northern economy.
At the moment people in the North of England earn £8,000, on average, less than in London and the South East, that will now continue.
There are no new plans. What he has "promised" was already included. There is no "levelling up".
This speech is a speech for opposition. There are no plans for any of it, just promises. In opposition he can say to each move forward by Labour "... is that all? But we promised x, y and z!"
And then he will disappear off to the states.
Source: Henri Murison, Chief Executive of Northern Powerhouse Partnership.