Businesses and people in the north of England will soon know exactly when they can expect links to the HS2 project to reach them.
The government is intending to draw up legislation that will put a firm date to its plans for the high-speed rail network, which is expected to connect London with Birmingham, Manchester and Leeds. The new fast trains will make it possible to travel between the destinations in a fraction of the current times, which could provide a huge boost to the business market in these locations.
Hundreds of miles of track will be laid on which trains will run at 225mph, slashing the London to Birmingham travel time to less than an hour.
By introducing its planned Paving Bill, the government would be setting out exactly when - rather than if - it expects HS2 to become a reality. Once this legislation is passed, Westminster will have the power to authorise finances for the project to be released quickly and efficiently, which should speed up the scheme.
Transport secretary Patrick McLoughlin said recently: "High-speed rail is an engine for growth that will help drive regional regeneration. It is vital we press ahead with delivering this crucial project as quickly as possible."
There is still significant opposition to the HS2 project, but the government is determined to push on with it and bring high-speed rail facilities to the UK for the first time.
Presuming it is successful in its quest to do so, the impact on business in the north of England could be immense. Businesspeople will be able to travel between London and several northern cities quickly and easily, making trade between firms simpler than ever.
It might also lead to a renewed wave of demand for commercial property in cities such as Manchester and Leeds, which will have a direct link to the capital. Should this prove to be the case, the HS2 infrastructure could soon start to offer a return on the initial investment.
Government 'to commit to HS2 date'
