23.02.16
Liverpool proposes paying for HS2 extension with local business rates
Is Liverpool prepared to pay for HS2 to come to the city? A new report from think tank ResPublica argues that the city needs to be connected to HS2 to meet its economic targets, including the creation of more than 70,000 jobs by 2030 in sectors such as the knowledge economy, advanced manufacturing and tourism.
It recommends that Liverpool uses local business rates and employer National Insurance contributions to finance up to two-thirds (£2bn) of the development – a new model of railway funding.
The government is not currently planning to include Liverpool on HS2, but the High Speed Rail-Linking Liverpool Campaign, the city’s business and university leaders, and figures including Lord Heseltine have all called for the line to come to the city.
Joe Anderson, mayor of Liverpool, told the Guardian: “The need for Liverpool to be connected to both the other cities of the north and London is huge if we as a city are going to play our part in generating money, jobs and continued growth through the Northern Powerhouse.”
However, whether Liverpool will be happy to pay for HS2 when the government is already planning to extend the line to other northern cities such as Manchester and Leeds remains to be seen.