§ Mr. CohenTo ask the Secretary of State for Transport (1) what is the latest total estimated cost of the M11 link road; [16549]
(2) on what estimated total cost the cost-benefit analysis study of the M11 link road was based; [16545]
(3) if accidents including fatal ones were included in the COBA study of the M11 link road and what numbers and costs were used. [16550]
§ Mr. NorrisThe current estimated total cost of the link road at today's prices is £340 million. This figure includes the preparation of designs and the supervision of works by our consulting engineers, the works contracts, the cost of diversion of statutory undertakers services and land costs; it also includes VAT where applicable.
The cost-benefit analysis at the 1987 public inquiry used a present value of total costs of £39.11 million calculated in accordance with then current practice of using 1979 prices discounted to 1979. Future cost savings attributable to anticipated reduction in all accidents were included in the cost-benefit analysis. Details are given in the letter and in section 4.5 and table 7.1 of inquiry documents D2 and D45 respectively, which were sent to the hon. Member at his request by the Highways Agency on 20 December last.
770WThe present value cost was based on a construction cost of £101.02 million and land cost of £23.3 million at 1986 prices.
A comparison of these figures with the present £340 million estimated total cost indicates that the main areas with increases from the 1987 estimate are an update of works cost to 1995 prices of £29 million; land costs of £12 million; statutory undertakers costs of £22 million; preparation and supervision costs of our consulting engineers of £21 million; the introduction of secant piling retaining walls to reduce the effects of construction on adjoining properties and London Underground in Leytonstone of £32 million; various changes such as the cost of making provision in the scheme for the Chelsea-Hackney underground line, changes following receipt of soils investigation, and increased use of brick for screen and boundary walls and an improved standard of finish generally of £39.5 million; improved signs, lighting and communications in the tunnels of £4 million; security costs of £10 million; and VAT, £46 million.