Philip Hammond’s views on HS2’s BCR dropping below 1.5
Transport Select Committee 13th Sep 2011. The then Transport Secretary, Philip Hammond, advised that if the BCR (benefit cost ratio) of HS2 fell below 1.5 it would need to be put “under some very close scrutiny”. This week (April 2012) the BCR fell to 1.2.
Luckily for HS2 Ltd, Hammond is now in charge of defence.