HS3 sparks debate: Will it benefit businesses of the North?
Whether you agree with the need for the accelerated rail link or not, we can all agree that the proposed HS3 railway plans are still sparking widespread debate across the country.
As part of the government’s long-term economic plan for the North, it believes that combining the strengths of Manchester and Leeds could have a significantly positive effect on the wider economy. That’s why plans to slash journey times between these two cities have been approved by the Prime Minister, despite the controversy surrounding the HS2 development, which will link the North and South and is due to get started in 2017.
The proposed high-speed rail link could be the catalyst to creating a Northern powerhouse. Cities in the north have rapidly been developing themselves as some of the most influential locations in the UK, moving out of London’s shadow and gaining a reputation as leaders of digital and technical expertise. Last year, TechNorth was launched, an initiative encouraging the existing excellence surrounding the tech industry in the North – fusing Leeds, Manchester, Sheffield, Liverpool and the North East together as experts in the technical field.
TechNorth helps to encourage inward investors to support businesses in the North as a place where the digital tech industry thrives. It is estimated that the North has 20,000 businesses in the tech, media and telecoms industries, and with support from large inward investors these businesses could create thousands of jobs across the regions and provide a real boost to the UK economy.
However, some HS3 sceptics have their reservations about the line, claiming that it is little more than an expensive and unnecessary project. Dr Richard Wellings from the Institute of Economic Affairs said that the government should invest more funding into smaller schemes that work to deliver high returns for the taxpayer.
Under the new route, journey times between Leeds and Manchester could be cut in half, making it much easier for people to gain access to the cities and generating a stronger link for businesses in each region. Other routes, such as Leeds to Sheffield Meadowhall and York to Birmingham, will also benefit from the HS3 line. Options for how the route could be expanded further North to Scotland would make an essential part of developing a future plan.
The government is also working on formalising a strategy to work together with authorities and stakeholders in order for the North to make transport decisions as a whole, as part of a new body called Transport for the North.
It’s unclear at this stage whether HS3 will ever happen, but one thing’s for sure; people will keep talking and arguing about the pros and cons of high-speed rail for many years to come.
Lee Wagstaff is the Brand Development Manager for Thornton & Lowe, committed to delivering value to a range of clients by offering strategic guidance and operational support. They also specialise in the bid management process of tendering for contracts.
