Phase 1 will speed up travel between Brum and the Smoke, but as with all such schemes the trend will be to move the commuter belt for London further out rather than move investment to the Midlands. Phase 2 won't be 'live' before 2040 at the earliest, and without huge investment in the surrounding ancillary transport links, will deliver eff all improvement - currently the fastest trains from Manchester and Liverpool take a little over 2 hours to reach London. Trans-Pennine is in much more need of investment, and of greater economic importance.