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Today's announcement of routes for the HS2 project highlights the importance governments ascribe to public works projects.
Students might consider whether this project does address fundamental infrastructure weaknesses in the UK. Would it be more beneficial to improve the motorway trunk network - adding more capacity on Trans-Pennine routes or an alternative to the M1 and M6 roads. Why not consider building a direct rail link to Heathrow from Birmingham? Is there a case for a new London airport with fast train links?
The Department for Transport's 2011 paper on The Economic Case for HS2 gives some background, but The Department's policy paper: "High speed rail: investing in Britain's future phase two - the route to Leeds, Manchester and beyond", includes plenty of other material to weigh up the project, including maps of the proposed HS2 lines.
Some might also wonder if the
state should be involved in the first place. The Victorian railways were funded
by shareholders, not governments. The
risk was borne by the investors not the taxpayers. Business studies students
could consider if HS2 will ever achieve a positive rate of return over its
lifetime. There is a brief outline of
the pros and cons of this scheme on The BBC's news website. The Economist Magazine highlighted concerns raised by The Public Accounts Committee about the accuracy of The Department For Transport's CBA for the HS1 Channel Tunnel Rail Link to London. If The Department's forecasting is inaccurate, then the case for building HS2 is undermined. Supporters of the scheme might argue that HS2 is an engine for regional economic development.
projects are no strangers to waste, have politicians learnt from Concorde or The Humber Bridge?
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Dates and Locations
AS & A2 Economics - Microeconomics: Markets & Market Failure (Unit 1), Business Economics (Unit 3)
- Monday 20 January 2014 - London (Stratford City)
- Tuesday 21 January 2014 - London (Fulham Broadway)
- Wednesday 22 January 2014 - Bristol (Cribbs Causeway)
- Thursday 23 January 2014 - Birmingham (Star City)
- Friday 24 January 2014 - Manchester (Salford Quays)
AS & A2 Economics - Macroeconomics: National & International Economy (Unit 2), Global/International Economy (Unit 4)
- Tuesday 25 March 2014 - London (Stratford City)
- Wednesday 26 March 2014 - London (Fulham Broadway)
- Thursday 27 March 2014 - Bristol (Cribbs Causeway)
- Friday 28 March 2014 - Birmingham (Star City)
- Tuesday 1 April 2014 - Gateshead (Metro Centre)
- Wednesday 2 April 2014 - Leeds (The Light)
- Thursday 3 April 2014 - Manchester (Salford Quays)
Post-Easter (AS Economics Units 1&2 Combined; Global/International Economy (Unit 4))
- Monday 28 April 2014 - London (Stratford City)
- Tuesday 29 April 2014 - London (Fulham Broadway)
- Wednesday 30 April 2014 - Bristol (Cribbs Causeway)
- Thursday 1 May 2014 - Birmingham (Star City)
- Friday 2 May 2014 - Manchester (Salford Quays)
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