Please can someone name me a railway built in this country whereby the business case "stacked up"?
I have read that the Llanelli Docks Railway was very profitable indeed in its early years (I haven't got beyond Chapter 4 yet().
More seriously, the reopening stop Aberdare and Maesteg are generally seen as a huge success, but the track was already there, freight had been running on it, and the decline of industry had meant that there was a greater need than ever to link these towns with Cardiff.
None of these factors apply to Carmarthen - Aberystwyth.
My point is that there has never really been a valid business case for any railway yet historically, towns have grown around stations. Can someone perhaps explain this?
I'll try! There was a business case for railways long before such terms were coined. They were first constructed to bring minerals to onward transportation (ship) in a more economic and efficient manner than dragging them across dirt and mud. At first they were horse powered, then once the steam engine had been invented, things moved on a bit. The point is that at the time there no alternatives, so the business case would have been very strong indeed, had anyone done such a thing.
Please can someone clarify why this would not be the case today and why planners are so intent on creating a "sound business case" when it will always look poor value for money whatever project you are doing?
Things are very different today. We all demand value for money, so a way has been devised to try and gauge that when it comes to large projects like reopening or rebuilding a line. They are not perfect by any means, and the methods used are always under debate, but they do serve a purpose.
The total cost also comes into things. It may simply be unaffordable, even if it has a good business case or Benefits:Costs ratio (BCR).
In the case of this particular scheme, i think it would come in as unaffordable int he current climate as well as having a very poor BCR.
Realistically, when any manager looks at it, they will always say "we're not going to get any return on this". Is it not time to return to historical thinking when it comes to re-opening/building new lines?
During the age of Railway Mania, many lines were built that shouldn't have been, but there was little planning or control over such things. Some lines and companies were hopelessly in debt from the start, and their whole case was built on business that wasn't really there. They were quickly swallowed up by bigger companies in many cases, who attempted to improve the finances through economies of scale and connectivity with other lines.
I hope that's not the type of historical thinking you want to see making a comeback!