All good public infrastructure investment increases local land values. The London Underground Jubilee Line extension provides a perfect example: cost to taxpayers £3.5bn; benefit to local landowners £13bn. Given the limited number of locations to benefit from the proposed High-Speed 2 project, is it likely that the value of all land affected by the project would rise to cover, let alone exceed, the cost? If the self-funding of public infrastructure by public collection of land rent was in place, this is the answer which would be sought.
Labour Land Campaign