Economic Essay Example | Topics and Well Written Essays - 1500 words - 16

Economic - Essay Example The HS2 railway would be a great investment for the United Kingdom (Cowen, 2011). Since the railway line will run from London to Leeds and then Manchester, it would ease congestion on Britain’s railway line. However, critics of the projects argue that high-speed railway would not benefit the country accordingly because of the price tag. Despite the opposition, it is rational to argue that the HS2 project is a necessity in Britain. Given enormous growth in freight and passengers, the new line would help ease these problems. Having high-speed railway line in Britain would mean expansion and growth of areas outside London. As discussed in the paper, the HS2 railway line would contribute a lot to the economy of Britain. The benefits of the projects justify the revised costs given its long-term investment (Nash, 2010). The high-speed railway line in Britain will open up the region and in turn encourage trade among European nations. This project means that Britain has embarked on expanding its international trade, taking advantage of the newly competitive exchange rate to penetrate new markets. It will encourage new foreign investments, expand and ameliorate its tourism industry and improve the education and skills base to continue providing a platform for new employment. In addition, under the Economic Recovery Plan of Britain, the government with the new project will appreciate the role of the public sector in economic growth. The project has also mobilized a variety of cross-public activities, which are aimed at supporting the Scottish economy through the effects of the global recession (Nash, 201). With the aim of escalating economic recovery in the Northeast England, the approval of the High-speed railway will encourage competition among firms in Northeast England. The project will aim at making the Northeast region a more cohesive, ambitious, and attractive for investment and working based on