Reviewing the economic benefit of HS2 for the North of England
Steer Economic Development (Steer-ED) was commissioned by The Northern Powerhouse Partnership to review the economic benefit of High-Speed 2 (HS2) in the context of the Government’s aim of rebalancing the economy and the North’s ambition to achieve its growth potential.
The work examined the scope and scale of the North’s economic growth potential and trajectory, what needed to be done to realise the transformation of the North’s economy, and the role that enhancing connectivity could make to a more efficient and effective operation of the North’s economy.
In the context of an expanding economy of the North, the report reviewed the existing case for HS2, its strengths and weaknesses, and the limitations of conventional welfare assessments. The work identified those potential benefits that have not been assessed, or considered in full or at all in Government decision-making, including the contributions to regional economic development and city growth strategies within the existing benefits picture.
The report also examined the broader transport-enabled benefits of large-scale infrastructure projects, such as High Speed Rail, on the economic ecosystem of the North, using a Theory of Change framework, across key economic domains including Skills, Knowledge/Innovation, Enterprise, and Trade and Inward investment.
The work’s findings and recommendations were submitted by The Nothern Powerhouse Partnership to the UK Government’s Independent Review Commission on HS2, chaired by Douglas Oakervee. A summary of the work can be found in this report - HS2 and the Economy of the North