I only have two minutes to go, so I really must come to a close.
I shall briefly talk about the economic impact and the fact that we are not taking money away from other infrastructure investment. We are investing £73 billion in transport from 2015-16 to 2020-21 and £57 billion in other projects.
In terms of the economic case, I draw the House’s attention to a report in The Times today, which states that HSBC—I do not think it is our favourite bank at the moment—is going to relocate 1,000 workers to Birmingham:
“The bank already has three sites there employing 2,500 people, and some of those will move to the new building that it has its eyes on, not yet erected, on a site near Centenary Square in the city centre.”
The article mentions the
“ever improving transport links”
in Birmingham,
“including the planned HS2 fast trains bolstering a road-rail network crowned by Spaghetti Junction on the M6”,
which it states has added to its appeal. So this is already having an effect on encouraging employers to come to the area.
In conclusion, HS2 is about helping Britain to thrive and prosper. Although tough decisions have to be taken, they will be responsible decisions in the interest of making a better, stronger Britain. We understand that a scheme of this magnitude cannot be built without having some effects on the environment or communities, but as I have set out here today, we are going to great lengths to ensure that the impacts are mitigated wherever practical, particularly in areas with ancient woodland. I repeat our pledge that there will be no net environmental loss. We will make sure that this is done in the most sustainable way for any major infrastructure ever built.