Comment

Representation ID: 1237

Received: 30/10/2023

Respondent: Railfuture Ltd

We commend an innovative financing model, Land Value Capture, as a tool to re-ignite the essential rail development project. It has been pioneered on the Northumberland Line, another freight-only line which lost its passenger services in 1964, nearing completion of its 18-mile upgrade with six new stations for new passenger services supported by c.30% financing through Land Value Capture – which operates independently from developer contributions via Section 106 and Community Infrastructure Levy funding. It is in our view critically important to avoid an over-reliance on highway-based infrastructure interventions to provide the additional capacity required to meet new travel demand.