Invest in rail to boost economy says ASLEF

25 Aug 2010

ASLEF today welcomed new data which confirmed what the union has long argued; investment in rail infrastructure can generate significant economic growth.

The independent research commissioned by the CBI on behalf of the construction industry shows that every £1 invested in rail generates £2.20 of economic benefits, more than any other sector of the economy with, for instance, banking and finance producing £1.70 per £1 spent and defence creating £1.30 worth of enhancements for each £1 expended.

ASLEF General Secretary Keith Norman said ‘I welcome these figures which demonstrate the economic benefits of greater investment in rail infrastructure. Our railways have the power to unlock greater social and economic mobility and investment in them is key to countering the impact of the economic downturn.’

Ends

Note to Editors

The sectors selected were ones for which the government is a major provider (e.g. transport) and can be found on page 12 of the report:

http://www.cbi.org.uk/ndbs/press.nsf/0363c1f07c6ca12a8025671c00381cc7/1b0460221653edd28025765c005a5db8/$FILE/UKCG%20L.E.K%20report%2028.10.09.pdf

Source: ONS (1995 – the last time the research was undertaken: published in 2002)