SEE: Regeneration: 4.A7A
- Created by: MaggieNaylor
- Created on: 03-03-22 09:29
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- 4.A7A: Infrastructure investment. Gov partnering with developers
- Two ways that the government invest in infrastructure
- High-speed rail
- HS2 is an example of a private company (UK rail) being able to operate due to gov subsidies
- Why?
- UK has most congested roads in Europe
- Greener method of travel
- Bridge north-south divide
- Positives: massively reduce journey times, 60,000 construction jobs created, bridge north-south divide
- Negatives: no intermediate stations so local communities will not benefit, v. expensive £50 billion, environmental concerns
- Airport development
- Expansion plans for a third runway at Heathrow and Gatwick
- Controversial, issues with noise, climate change, and contributions ot local air pollution
- May's government were keen to use infrastructure to make trade with long haul destinations more attractive
- This was because of concerns over losses in the post-Brexit economy
- £1 billion also invested in Manchester airport to link with HS2 and further reduce north-south divide
- Expansion plans for a third runway at Heathrow and Gatwick
- High-speed rail
- The role of central government
- Funding- HS2 is estimated to cost £50 billion, this is too high for private investors
- So the government invests in the hope of creating an economic multiplier to return their investment
- Cost-benefit analysis- authority to make the final decision
- Taking into account social, economic, and environmental impacts
- W/O gov making final decision on where most needs regeneration/what type of regeneration it should be, it could lead to conflicts between key players
- Other bodies don't have the authority to make the final decision
- Funding- HS2 is estimated to cost £50 billion, this is too high for private investors
- Two ways that the government invest in infrastructure
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