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Hyperloop One: Stockholm to Helsinki
Volterra carried out an economic assessment of an ultra-fast transport system connecting Stockholm to Helsinki. Hyperloop One
will be an entirely new form of transport: as planned, it will connect city centres that were previously hours apart in minutes and deliver a step change in the relationship between distance and connectivity. The existing journey requires a flight – and the associated time to access the airport, check in and board – or a very long ferry. Hyperloop One
would run direct between the two city centres and reduce journey times between the two to half an hour, with intermediate stations along the route. The increase in accessibility will result in significant Wider Economic Benefits (WEBs) as a result of the increase in “effective density” and increased access to labour. Our work included valuing the user benefits and the WEBs, and incorporating them into the economic case.
Paul Buchanan’s published report: Transport, land use and economics
Volterra Partner and leading economist Paul Buchanan
has written a paper for the Journal of Urban Regeneration and Renewal.
Paul's article Transport, land use and economics
is featured as one of many papers discussing urban regeneration and renewal in a complex contemporary climate. You can read the article HERE.
The publication is the essential peer-reviewed journal for all professionals concerned with physical, economic and social regeneration of urban communities. It publishes in-depth articles and real world case studies on the latest strategy, policy making and current and best practice in the field. You can read more about the journal and indeed purchase it at Henry Stewart Publications.
The Night Tube has arrived!
Volterra welcomes today’s launch of the Night Tube
, which will see London Underground operating 24-hour services on Fridays and Saturdays. Night Tube services will launch on the Central and Victoria lines from tonight, with the Jubilee, Northern and Piccadilly lines to follow in the autumn.
Volterra produced a report for TfL and London First in 2014
assessing the scheme’s impact on the night-time economy. Our findings indicated that the Night Tube would support 1,965 permanent jobs and provide £3.90 of benefit for each £1 spent on delivering it. You can read the full report here
The study was led by Volterra's Partner Ellie Evans
, who said: “In addition to its employment impacts, the Night Tube will bring numerous other benefits and contribute towards a more vibrant night-time economy that will increase the attractiveness of London for visitors, residents and businesses”.
Ellie Evans speaker at London Real Estate Forum 2016
Volterra Partner Ellie Evans
spoke at the London Real Estate Forum 2016
as part of a panel discussing the future of London’s economy. Brexit was looming, and the implications for London’s economy were discussed but setting that aside - Ellie focused on the role property developers can play in creating a diverse and attractive atmosphere in London that tourists, investors, occupiers and workers want to be part of. Ellie talked about the importance of leisure uses, public realm, and social infrastructure, in contributing to the success of commercial and residential developments across London.
You can read more about the event and watch a video HERE
Planning permission granted for Ilona Rose House
Soho Estates has been granted planning to convert the old Foyles building in the Tottenham Court Road Opportunity Area into a mixed use development known as Ilona Rose House
. The development will include the provision of office, retail and leisure space as well as improved public realm. Volterra authored the economic case for the development which is expected to support 1,485 jobs directly onsite. This is equivalent to an annual GVA of £128 million. Volterra Partner Ellie Evans
says ‘The additional office floor space provided by Ilona Rose House is c.10% of the growth in office floor space needed in Soho over the next 20 years in order for Westminster to meet its growth targets. This is a very significant contribution from a single scheme, as has clearly been acknowledged by Westminster.’
Volterra Associate Kieran Arter talks at Annual Transport Practitioners’ Meeting
Kieran Arter, Associate at Volterra, spoke at the 14th Annual Transport Practitioners’ Meeting
in Nottingham on 29 June discussing “How transport supports economic development”. He summarised the treatment of economic benefits in transport appraisal, ranging from traditional user benefits to the more recent thinking on Wider Economic Benefits.
Kieran also emphasised the importance of taking dynamic impacts into account – that is, the ways in which transport schemes affect patterns of land use. He explained the results of work undertaken by Volterra to better understand the relationship between accessibility and employment / population density, arguing that it is important to take land use changes into account within appraisal.
National Needs Assessment: when is evidence good enough?
Leading Economist Bridget Rosewell says that judgement will still need to play a big part in assessing our infrastructure needs of the future in her article National Needs Assessment: when is evidence good enough?
Published recently on the Infrastructure Intelligence website, you can read the article HERE
Bridget Rosewell is a member of the National Infrastructure Commission, headed by Lord Adonis, and has been a long-time advocate of the need for infrastructure when planning for the future. This fascinating analysis explores whether we can or even should achieve evidence based policy and decisions.
Paul Ormerod talks EU referendum on IGTV- don’t miss it!
Volterra Partner and leading Economist Paul Ormerod
was invited to IG with Survation to offer commentary on Brexit after Survation Poll results were shared live on IGTV
yesterday, Wednesday 25th May.
With just four weeks to the referendum Presenter Jeremy Naylor
revealed Survation telephone poll results on which way the vote might go. Of those questioned: 44% would vote to remain, 38% would vote to leave and 18% were undecided.
Paul and Jeremy discussed Conservative claims that Brexit would lead to a self-enforced recession, as always Paul offered a fascinating and insightful commentary: "the average period between recessions is 7 years, we are now in the 8th year, so we could be in a natural slow down".
You can watch the broadcast HERE.
Image: European Union flag by Yanni Koutsomitis licensed under CC by 2.0
Bridget Rosewell speaker in the 2016 World Traders’ Tacitus Debate
Volterra's Senior Advisor Bridget Rosewell
was invited to be a guest speaker at The 2016 World Traders' Tacitus Debate on Thursday 28th April 2016.
This year's debate returned to the London premises of DLA Piper at the invitation of the Tacitus subcommittee Chairman, Lord (Tim) Clement-Jones.
Following Sir Paul Tucker's Lecture at Guildhall, theme was "Should International Monetary Policy and Global Foreign Policy be Inextricably Linked?"
Guests and students in attendance were treated to interventions from four distinguished speakers: two economists, Vicky Pryce who previously worked for the UK Government as is now on the Advisory Board of OMFFIF, along with Volterra's Bridget Rosewell OBE. In contrast were Simon Derrick, the Chief Currency Strategist on the BNY Mellon Markets team, and the Chairman of CET, David Coughtrie, who brought to the debate his wide business experience.
You can read more about the event and watch the Debate online HERE.