Recent Release | 02 Nov 2022
The Economic, Environmental, and Social Opportunities that Rail Brings to the UK
Economic Consulting Team
Oxford Economics
A review of the wider benefits that UK rail delivers for passengers, commuters, job-seekers, and the environment.
The Economic, Environmental, and Social Opportunities that Rail Brings to the UK report shows how UK rail has the potential to deliver a wide range of benefits to passengers, commuters, job-seekers, and the environment. This complements our 2021 report The Economic Contribution of UK Rail.
The report, commissioned by RIA, shows that increased use of rail generates benefits for the UK economy by improving productivity and labour market outcomes:
- Time savings – public transport generates around £1.4 billion in time saving benefits every year for commuters in six of the UK’s largest cities from reduced congestion
- Higher wages – reducing journey times between Manchester and Leeds by 20 minutes could increase wages by approximately £600 per worker per year.
- Job opportunities – a 10% reduction in regional journey times could support from 1,950- 12,600 jobs dependent on the area. 5,900 jobs could be supported in Scotland, for example.
Rail also has a lower environmental impact than other modes of transport, and new technology will only reduce this:
- Low-carbon travel – by 2050 electric trains will produce 14 times fewer emissions than conventionally fuelled trains.
Finally, access to the rail system supports social mobility and improves public health:
- Public health – £115 million per year in healthcare cost savings could be generated by improving public transport in six of the UK’s largest cities.
- Access to services – in addition to the economic benefits from accessibility, those with better public transport links are more likely to have access to services and participate socially.
About the team
Our Economic Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
James Bedford
Senior Economist, Economic Impact
Stephen Foreman
Associate Director, Economic Impact
You might be interested in
You don’t have to be an IT expert to lead on AI
The adoption curve for AI will vary across companies but, according to our data, it’s probably already in use in customer service and marketing—areas where women are more likely to hold leadership roles.
Find Out More
The economic impact of abandoning the WTO
Oxford Economics have been commissioned by the International Chamber of Commerce (ICC) to provide an independent assessment of the economic impact of WTO dissolution. This report details our findings and the assumptions underpinning our analysis.
Find Out More
The economic impact of the sports activities of public service media
This study shows how the sports activities of public service media supported €4.5 billion of GDP and 57,000 jobs across 31 European countries in 2022. The report also highlights wider economic benefits of public service media sports coverage, such as the way in which it leverages sponsorship income for sports bodies.
Find Out More
Global Trade Education: The role of private philanthropy
Global trade can amplify economic development and poverty alleviation. Capable leaders are required to put in place enabling conditions for trade, but currently these skills are underprovided in developing countries. For philanthropists, investing in trade leadership talent through graduate-level scholarships is an opportunity to make meaningful contributions that can multiply and sustain global economic development.
Find Out More