Scheduled to open in phases between 2026 and 2033, high-speed trains will travel up to 400 km/h on 530 km of track. The project is estimated to cost £56 Billion and will provide fast access to major cities across the country generating 22,000 construction jobs in the next five years and an expected 100,000 jobs once the line is up and running.
The KPMG report estimates that within five years of the line opening, UK productivity will rise by £15bn a year – an increase of 0.8% GDP. Better transport connections mean reduced production and transport costs, higher productivity and greater competition between UK regions.
The Northern Powerhouse
The Northern Powerhouse is a government initiative to boost economic growth in the North of England, particularly in the core cities of Manchester, Liverpool, Leeds, Sheffield, Hull and Newcastle. It is based on the benefits of agglomeration and aims to reposition the British
economy away from London and the South East and involves improvement to transport links,
investment in science and innovation, and devolution of powers in City Deals.
- 15.2 million Total population
- 4 Of the world’s top 100 Universities
- £13bn To be spent on transport by 2020
- 1 million Businesses generating 4.5mi jobs
- £60bn Goods exported every year
Manchester At A Glance
WITH MANY OF THE FTSE 100 COMPANIES NOW BASED IN MANCHESTER, THE CITY CONTINUES TO EMERGE AS THE NORTH’S MAJOR DRIVING FORCE.
- 2.8 Million Population
- 27 Million Passengers through Manchester Airport each year
- The driving force of Northern England’s Economic Powerhouse
- The fastest growing major city outside of London
- Prices due to rise by 30% by 2023 *thisismoney.co.uk
- HS2 Rail Network due 2033 bringing travel times to London down to one hour.
- Manchester Airport – one of the busiest airports in the world handling over 27 Million passengers a year to over 210 destinations worldwide.
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