Yes I agree it is just the Todmorden curve. It was the media making it sound like a whole new line opposed to just the reopening of a short stretch of line.
They showed Nick Clegg saying how brilliant the idea was and stating that for every £1 invested by the government, local businesses would invest £6 making it a good deal for both the government and business. However, looking in more detail I think that's an average rate as the percentage of government funding varies depending on the type of project.
