Optional25 marks
ContextHigh Speed 2 (HS2) was a £100 billion UK government rail project designed to expand the existing network. The journey time between London and Manchester would take just 1 hour and 11 minutes, 54 minutes quicker than today’s fastest time. Almost 900 homes, 1 000 businesses and around 60 ancient woodlands would be destroyed by its construction.
Evaluate the likely microeconomic effects of building major infrastructure projects.
1.3.2 · Externalities1.4.1 · Government intervention in markets1.4.2 · Government failure3.5.1 · Demand for labour