Well, initial thoughts:
"As a potential source of benefi t arising from this route option, the
introduction of a regular hourly planned train service operating
between Plymouth and Exeter, calling all stations to Bere Alston,
Tavistock, Sourton Parkway, Okehampton, Crediton and Exeter St.
Davids has been assessed. The assessment and appraisal of such a
service based upon current demographics and assumed trip rates
has found that the transport economic benefi ts would fail to cover
the marginal costs of train operation, with a BCR (over a 60-year
period) of 0.82. Table 2 summarises the findings"
So table 2 summarises these findings which comes up with a BCR of 0.14. But hang about - The table in the executive summary on page 5 says the Okehampton route has a BCR of 0.14, so it's presumably the same calculation of Table 2 on page 30, as alluded to above, which says it doesn't include the local service, as it supposedly worsens the BCR

So what is this BCR which doesn't mention a local service ?
As is always the case with our wholly inadequate way of calculating these things, I'd like to know where they've accounted for increased leisure and employment opportunities. We have a rather euphemistic section entitled "Unpriced user and non-user benefits". How are these calculated ? Are we to take it on trust that these include these benefits outlined above, and that they are realistic ? (I certainly don't).
Also, the report alludes to an option of a single track railway with dynamic loops that would be similar to the Borders railway. Yet this option, which would alleviate some of the issues highlighted with the Okehampton route (issues which the rest of the railway seems to manage with but never mind) is not costed at all.
Finally, there has been no attempt to quantify the cost to the local economy of the closure of the Dawlish route. "We've not done it before, it's too hard".
All in all, it looks like a dog's dinner of a report, however, I will try and look at it in more detail.
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But very much heard of in every single major transport project in this country, at this stage of development, that is funded by government. Level playing field.
Why should we have a level playing field ? Road based transport hasn't been decimated over the past sixty years in the same way as the railway network has been, therefore there should be a bias in favour of expanding the railway network to make good some of the damage that has been done.
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Finally, I observe that some tu'penny ha'penny cruise ship firm is refloating and scrapping the Costa Concordia at a cost of £1.3 billion. Yet we can't spend however many hundred million (we don't know because they haven't costed a single track option in the report) to reopen the second route to Plymouth.