Action needed to secure HS2 benefits, says HSRIL

Action is needed to secure the wider economic benefits that High Speed 2 (HS2) could make possible, according to High Speed Rail Industry Leaders (HSRIL) at their annual conference in Leeds on June 12.

The group claims that Britain’s ‘economic geography’ will change when HS2 opens, as better transport connections make locations more attractive for business investment. But it argued that in order to maximise the potential economic benefits, government, businesses and local authorities must unite to plan for the railway before it is opened, rather than after.

The economic potential of HS2 was one of the key themes at the conference, with discussions centring on bringing in business investment, securing housing and commercial developments, delivering complementary transport improvements, maximising the development of skills and jobs and, in the longer term, maximising the potential to sell UK expertise overseas.

High Speed 1’s socio-economic benefits were also highlighted, which in some areas are claimed to be greater than at first anticipated, with an increase in tourism in Kent cited as one example of this.

HSRIL director Nisrine Chartouny opened the conference by saying: “HS2 can ignite regional economies all across the UK and there is an open door for investment in towns and cities, spurred by HS2. Constructing the railway line is one part, but so are the plans needed to secure investment that HS2 stimulates. Places around the world with high-speed rail have shown how this can be done. We need to do the same and harness our global window into the world.”

HS2 Chief Executive Mark Thurston backed this sentiment, adding: “HS2 is more than just a railway, it has the power to be a vehicle for social mobility – bringing opportunities closer to people, and leaving a lasting legacy of jobs and skills here in the UK. As the project continues at pace – with Phase One in construction, the Phase 2a Bill in Committee and our latest round of engagement events for Phase 2b underway – around the country businesses are already benefitting from HS2 with £10bn worth of contracts already let, building on our commitment for £600 out of every £1000 going to SMEs.”

Former Secretary of State for Transport Andrew Adonis – who was one of HS2’s initial supporters in Government said: “I have three children. A son, a daughter and HS2,” and called for the project to be regarded as not just a railway but as “a big social and economic programme.”