Where on earth did you get the idea that this £40 million is going to fund an hourly service?£40m only announced yesterday but they must have known it was coming and this money is also for provision for an hourly service next year. Network rail seem to want to get the line ready as soon as possible and not a December opening when the traffic might not be so good.. Maybe for an end of lockdown opening so the MP can be trotted out with the local dignatries at socially distanced space. They have probably all been jabbed.
Replacing track and ballast costs in the order of £1 million a km and GSM-R radio will likely cost a seven figure some.
An hourly service would need Coleford Junction to be reinststed to provide "double track" between Crediton and Coleford along with major signalling alterations and a new down platform at Yeoford.