I support what the noble Lord, Lord Berkeley, has said. The scheme as envisaged is extravagant, and this is not a time when we can afford extravagance. There is a good case for having an independent assessment of the costs, particularly to consider such things as how long this railway can terminate at Old Oak Common, which would set aside a considerable sum of money. If a connection has to be made to Euston, how can that be done in the most economical way? I do not believe that that issue has been addressed. We are not talking about small sums of money; we are talking about billions of pounds.
One thing that I was told about the Bill was that people had made assumptions about the time it took to turn round a train from the north that was heading in the direction of London. I have run a lot of London stations. I can assure noble Lords that, with the number of trains that it is proposed to run from Manchester to Old Oak Common, it would be quite easy, given the six platforms there, to turn the trains round. What one has to factor in is the capacity at Old Oak Common. That means that there has to be a sufficient number of people to service the trains. Special attention also needs to be given to the access to and from the platforms.
I rather agree with the noble Lord, Lord Berkeley, about the Handsacre link, which seems to cost a lot of money. I certainly agree on the issue about speed. There is a complete misapprehension of the value of journey time savings when we talk about savings of two minutes or less, yet that structure holds up the whole of our transport evaluation, whether in road, rail or anything else—the biggest factor to be taken into consideration is the value of the small time savings, which are all added together and form a colossal sum. However, people making a journey do not take into consideration whether they are going to be two minutes quicker, because in lots of modes of transport unpredictability is a much bigger factor than the journey time saving.
I also want to probe—to push very hard—on the time savings. We should be very careful about speeds which go much above 125 miles per hour, possibly up to 150. It costs a lot once you push speeds towards the upper end of the limit. I am happy to join the noble Lord, Lord Berkeley, in his call for independent costings, but there is also a need for re-evaluation of the economic basis on which the line is to be built.