Almost all of it is money deemed to have been saved by reducing travel times. Business customers, it says, will save £17.6bn by getting there faster; leisure customers £11.1bn. Nowhere in the documents are these figures explained or justified. I spent the whole of Monday pressing the Department for Transport, asking for an explanation of how it converted time into money. The department spent eight hours of frantic searching to discover, just before 5pm, that it did indeed have a model, which it described as \”frightfully complicated\”.
Peoples\’ time does have a value and it\’s a value which should be included in estimations of the costs and benefits of a scheme.
If this is applied to high speed trains then it should also be applied to the time people have to spend sorting domestic waste…..