New report values benefits of Canal & River Trust waterways

A HEADLINE report setting out the economic and social value of the inland waterway network was launched by the Canal & River Trust at the All-Party Parliamentary Group for Waterways.

Presenting the report toMPs, chief executive Richard Parry announced that the combined annual economic and social value of thewaterwaysamounts to £6.1 billion.

This includes £1.5 billion annual economic value from water-based tourism and jobs, and annual social value of £4.6 billion, a figure which includes a £1.1 billion cost saving to the NHS from active use of the waterways and the towpaths.

He said: “This report and analysis captures how the trust’s work to protect and preserve the nation’s historic canal networkdelivers positive outcomes for society. These include the value of the canal network in terms of supporting jobs, the visitor economy, and the unique welfare benefits delivered by providing access to nature and the outdoors in urban areas, often in society’s most deprived communities. No other UK charity brings so much free blue andgreen space to the doorsteps of somany.

“However, the nation’s 250-year-old canal network is also old and fragile. Together withgovernment, thetrustbears a huge financial responsibility for the meticulous day-today care required to keep this precious network safe and navigable and, in turn, available for society to benefit fromand to protect the homes, businesses and critical national infrastructure that runs on or alongside it.”

Richard added: “Through championing the benefits of the network for low carbon transport and tourism, sustainable drainage, water transfer and generation of low carbon energy, we can ensure that the next chapter in the history of the waterways sees them help society mitigate the effects of climate change.”

To quantify the benefits, the trust worked with social-value experts Simetrica-Jacobs, withall methodology aligning with 2022 HM Treasury Green Book valuation techniques.

Furthermore, the integrity of the canal network’s reservoir dams, embankments and thousands of other historic infrastructure assets also protects homes, businesses and national infrastructure such as electricity sub-stations and utilities. Again, using HM Treasury Green Book methodology, this has a protection value of £42 billion.

Turn to pages 68 and 70 for reports on the meeting by Helen Gazeley and Peter Braybrook.