Title: Pros and Cons of High Speed Rail HS2 - Economics Help
Headings: Pros and Cons of High Speed Rail HS2
Pros and Cons of High Speed Rail HS2
Pros of High-Speed Rail
Cons of HS2
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Content: Residents are unhappy at impact on living standards and home values. In an era of austerity, spending on train service is not the highest priority. There is a high opportunity cost of spending on HS2 as the £88bn could be spent elsewhere (e.g. fixing potholes, reducing congestion on roads, decarbonising economy)
Forecasts for passenger numbers are uncertain, there is no guarantee the demand will be there. In recent years, rail traffic growth has dipped. The scheme may not be finished until 2040. Rather than reduce the north-south divide, it may encourage people to live further away from London and use HS2 as a fast commute to London. The costs of HS2 continue to rise. Initially, in 2015, the project was forecast to cost £56bn but could now the total cost could soar to over £100bn. The higher cost is partly due to more expensive tunnelling to keep down noise to residents near the track. One report claims HS2 costs are out of control ( BBC)
There are cheaper and more effective ways to increase capacity, such as digital signalling, investment in local commuting routes.