11 April 2014
New HS2 Compensation Announced
Details have emerged about compensation packages for homeowners and businesses near the HS2 high-speed rail link.
Under the new proposals, which were released to the press earlier this week, the government will buy all properties that sit within 60 metres of the railway at full market value plus ten per cent.
This is not thought to affect a large number of homes, as the Department for Transport specifically planned its line so that it would not go near to homes unless unavoidable.
Further to this, the coalition announced how those with property up to 120 metres away from the line, who do not wish to move, will be given a one-off payment worth ten per cent of the home's value.
In a case where a house is worth £300,000, if a property-owner wishes to sell in order to avoid noise disturbance, they would receive £330,000, while a resident who chooses to stay would be given £30,000 up-front.
However, this would only go to a maximum of £47,000, so any property worth over £470,000 would have diminishing returns on this opportunity.
This latest round of compensation has been announced in an attempt to appease those who had opposed the government's HS2 programme.
Many rural constituents have complained to their MPs over concerns that the line will blight the landscape and bring undue noise to areas previously well known for their natural beauty.
But campaigners in favour of the infrastructure claim it will bring job opportunities to millions of Britons in large cities, including poorer people in Manchester, London and Leeds, who may otherwise have had to stay in their home city for commuting reasons.
Patrick McLoughlin, transport minister, claimed there will be further consultations on the plans.
"I completely understand the concerns and anxieties of those living near the line and it is only right that those people are properly looked after. I believe this package of compensation and assistance will enable us to help people more," he said.
"But I want to get it absolutely right, so I am asking for further views on some aspects before we finalise plans."