Connected gateways across Morecambe Bay and the Duddon estuary, between Heysham and Millom will shorten journey distances from 56 miles to 22 miles and more impressively time taken will be reduced from 1 hour 50 minutes to 24 minutes.
On an assumption of 6 million journeys a year, the miles saved and reduced fuel consumption will save £72 million a year and 72 million litres of fossil fuel a year.
The time saved of 1 hour 26 minutes at say £20 per hour x 2 for a return journey would save £343 million a year.
A total saving of £415 million a year.
The major reduction in journey time between Heysham and Barrow would improve the business opportunities and tourism on the West Cumbrian coast, not just in immediate areas, e.g. Barrow, but up to Stranraer and down to the Fylde Coast.
Improved connectivity will also help in economic growth in North Lancashire and Cumbria, the assumptions in these calculations and on the monetary value of the impact on economic growth is currently being considered.