I'd like to see the evidence that support your statements. However, you won't have it.
1) the "£280m" (it was actually more, I've seen the final account) is the Network Rail cost of construction only. It did not include land, the consents process, Transport Scotland's costs, design, and more. Almost all of which which was done rather more than 4 years ago, and cost a lot of money.
2) inflation. I didn't say 25%, you did. RPI has risen around 10% in that time. Construction price inflation has been more. 10% of 'well over £400m' (my words) is of course well over £40m. Which takes the total to nearer £500m
3) air pollution. To say that 'only 20% of air pollution comes from emissions' and then '80% of particulates comes from wear to tyres, brakes, clutches and roads' is conflating two separate statistics. The facts, as provided by DEFRA here:
https://uk-air.defra.gov.uk/assets/...50_AQEG_Fine_Particulate_Matter_in_the_UK.pdf
are that exhaust emissions are responsible for 62% of road transport generated PM2.5, with non exhaust at 38%, of which a large proportion is brake wear. Which doesn't happen with electric / hybrid vehicles.
4) the same report also explains that PM2.5 pollution has been steadily reducing as road vehicle Diesel engine emission standards have got progressively tougher. The same standards are not applied to rail vehicle Diesel engines. This article:
http://www.railway-technology.com/f...stink-how-much-do-trains-really-emit-4807131/
points out that air pollution, and PM2.5 in particular, in Paddington station is significantly worse than the adjacent Marylebone Road, which itself is by some distance the worst for said pollutants (see monitoring in DEFRA report above.
5) I would love to see the business case with a BCR of 3.0, consisting of a properly estimated project cost, with appropriate risk, and a full assessment of monetised benefits.