United Kingdom

Details

  • Industry: Transport
  • Type: Press release
  • Date: 27/08/2013

HS2 will have transformational impact on UK economy and its future competitiveness, says KPMG 

 

Richard Threlfall, Head of Infrastructure, Building and Construction at KPMG comments on today’s report by the Institute of Directors calling for the Government to scrap HS2:

 

“It is disappointing that the Institute of Directors has joined those seeking to challenge the business case for HS2. I continue to believe that HS2 will have a transformational impact on the UK’s economy and its future competitiveness.

 

“Work undertaken by KPMG in 2010 showed that a high speed rail network in the UK could boost annual economic output in 2040 by between £17bn and £29bn, recovering the currently anticipated £42.6bn cost within just a couple of years.

 

“And last year 64% of respondents to the CBI-KPMG Infrastructure survey said HS2 would have a positive impact on business. Failing to invest now into big infrastructure projects like HS2 will only speed up the process of putting the UK on a downward spiral to a second tier economy.”

 

 

For further information please contact:

 

KPMG Press office

Tel:  +44 (0) 207 694 8773

 

Katrin Boettger, KPMG Corporate Communications

Mobile: 0782 4475168

Katrin.boettger@kpmg.co.uk

 

About KPMG:

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

 

 

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