Labour leader Jeremy Corbyn says the West Country needs a new railway line by-passing Dawlish and an upgrade all the way from London to Penzance – and wants to set up a new bank to pay for it.
The Leader of the Opposition, in Plymouth to meet party activists, said the current state of the link to the capital is not acceptable and is damaging the region’s economy.
He is advocating a new in-land line, to go around the Dawlish problem area, and then electification to make trains run faster.
He said that if Labour gained power he would look to set up a national infrastructure bank, with regional banks established too, to fund huge infrastructure projects such as this.
The line was put out of action for weeks in 2014 when storms wreaked havoc on the railway at Dawlish.
And the stretch has been put out of action periodically since, including when a large hole was opened up near Teignmouth in 2018.
Mr Corbyn said the situation needs to be addressed, but wants to go further than just patching up the coastal railway.
“If you do not have a viable and secure rail link the economic development and tourist traffic will be constrained,” he said. “Closure every year is not acceptable.
Under an electrification programme, trains would be powered by electricity rather than diesel motors, Such systems are seen as more efficient, cheaper to run and better for the environment, but require a large amount of initial capital investment.
He stressed, while addressing more than 100 Labour activists in Plymouth’s Central Park, that the South West – along with the East Midlands, North East and North West – were underfunded by the Tory Government.
The Labour leader said there was “disproportionate” Government investment going into London and the South East and that if Labour gained power the party would address this by setting up a national investment bank to fund large scale infrastructure projects.
He said that would provide investment into a “full rail service to all the far South West”.
Mr Corbyn said a network of regional investment banks would also stimulate small and mid-sized businesses, creating jobs.
“There could be an investment bank for major projects and regional development banks for economic areas like the South West, which is key,” he said.
Mr Corbyn said there should be a general election in 2019, and is confident of success for Labour.