Returns on the investment were also shown to be far
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less than an Using what was called the "social opportunity cost of conversion approach", a 10 per cent return on investment was regarded as being the minimum.
But when the group studied the two lines they found a return of only 2.9 per cent and 1.6 per cent.
The two lines are the Crouch Valley Line and the Sudbury to Colchester line — both of which were examined by the original DoE report.
The new report says that the costs envisaged by the DoE are far too low and suggests capital costs for each line at least five times higher than the Department admitted. .
Estimates for the costs of a bus service to replace the lost train services also come in for criticism. The Transport Studies Group says that the Department was not nearly searching enough in its research for the original report.
No solution
The group says in its final 'conclusions that converting