LNER provides £688.5m boost for the North East and Yorkshire, says report
London North Eastern Railway (LNER) can play a major role in rebuilding Yorkshire’s economy after the pandemic, according to a new report.
The report into the economic, social and environmental value delivered by LNER, which has been produced by Steer, concludes that LNER services and investment are worth £2bn to the UK every year, and that for every £1 spent running and investing in LNER’s services, at least £2 is generated in economic (GVA) impact.
This includes £688.5 million in benefits for the North East of England and Yorkshire and the Humber, which is nearly double the benefit delivered by LNER to London and the South East, the report said.
David Horne, LNER’s managing director said: “This independent report by Steer confirms that LNER has a crucial role to play in the North of England’s recovery and helping the UK reach net-zero.
"Whether it is our services, employment, procurement from local suppliers or partnerships with charities, every choice we make has the potential to create new opportunities for the towns and cities we serve. Before the pandemic LNER had an annual impact of £2bn – meaning that every £1 spent generated £2 for the wider economy.
"Our plans for the future, including additional long-distance services, will increase our economic, societal and environmental contribution much further. It is also clear that encouraging more people to choose rail over other less environmentally friendly options will be crucial if the UK is to reach its net-zero ambitions.”
LNER customers also spend £5.4m in Yorkshire and the Humber and £2.53m in the North East of England per annum, providing a boost for local businesses, the report said.