Survey Shows Foreign Investors Are More Likely To Come If The High-Speed Railway Is Built

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28th November 2013 13:46 - Transport and Distribution

A recent study by ComRes found that nearly three in five (57%) foreign investors said building HS2 makes the UK a more attractive investment destination, suggesting the uncertainty involving the HS2 project is harming the UK’s appeal to foreign business.  These findings have been published a day after they Hybrid Bill to pave the way for the new rail line – which will link Birmingham and London via 225mph trains from 2026 and extend to Manchester and Leeds from 2032 – was introduced in Parliament.

Among respondents, one in five said transport and logistics infrastructure was one of their key reasons for choosing to locate in the UK, citing it as more important than tax rates, exchange rates and financial incentives. The study also found that the majority (56%) of foreign investors feel the UK must invest more in large transport projects if it is to remain competitive in the future.

Neil Rami, Chief Executive of Business Birmingham, said:

“Foreign businesses want HS2. That message is clear. If it is important to them, it should be a priority for us as a nation.”

Garry Pass, UK Managing Director of NVC Lighting, said:

“Birmingham is investing heavily in its infrastructure, and is continuing to do so in the future, which is vital to the success of businesses like ours. World class infrastructure matters a great deal too foreign businesses, who rely on quick access to local and international markets, which is why we want to see HS2 built.”

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