Stuff reports :
Auckland Mayor Len Brown says a report on a proposed $2 billion rail tunnel through central Auckland shows the business case for it is “compelling”.
The tunnel, which would link Britomart with Mt Eden station and create an inner-city rail loop, was one of Mr Brown’s primary election campaigning points and the business case was released today.
The report says that the standard benefit-cost ratio (BCR) for the project is equal or higher than that of two of the Government’s Roads of National Significance.
It goes on to say:
The standard BCR of 1.1, worked out on the 8 percent discount rate, is higher than the 0.8 BCR for the proposed Puhoi-Wellsford motorway and equal to that for the Wellington northern corridor, which includes Transmission Gully.
I thought Transmission Gully was less than one also, but anyway:
With wider economic transformation benefits, such as improved land use, urban regeneration and transformation and economic development, the BCR at the 8 percent rate is 3.5. It is 4.7 at the 6 percent discount rate and 6.6 at the 4 percent discount rate.