EQ3 Flashcards
(15 cards)
HS2
Initial cost £33bn
Rose to over £100bn
Manchester leg cancelled in 2023
Top-down approach
Lack of stakeholder engagement
Supporters:
UK govt - Northern economy improved
Local govts - Jobs, investment, connectivity
Businesses - long term growth
Opponents:
Env groups - destruction of ancient woodlands - 16Ha by 2021
Residents - noise pollution, living environment disturbed
Economists/media - value for money questioned, upgrade existing lines instead?
Delays and changing costs damaging public trust
Symbolises NS divide and contested national priorities
Heathrow 3rd Runway
Approved by UK govt 2018 but delayed by environmental opposition
Capacity for 260k annual flights
Generate £61bn/yr for wider economy
Top-down approach
Lack of stakeholder engagement
Supporters:
Heathrow Airport ltd - Needed for UK to remain globally competitive
Businesses + airlines - jobs, trade, improved international connectivity
UK govt - economic growth, global links
Opponents:
Env groups (e.g XR) - contradicts netzero targets, climate impacts
Residents - noise/air pollution, property loss (e.g Sipson village)
Local govts - legal action taken (Sadiq Khan) on env/social grounds
Unclear if it will proceed
Highly contested project - climate
UK housing
Govt aims for 300k/yr
Peak was 243k/yr 2019/20
Backlog of 4.3mn homes - housing deficit driving up house prices
Contributing factors:
Rising population - immigrants
Rising divorce rates
Rising wealth (multiple homes)
Overseas investors - unoccupied homes
Lack of houses slows migration of skilled workers, slowing economic growth
Low affordability means less disposable income so local economy declines
Planning laws
Planning laws e.g building on greenbelt land banned -> inner city becomes densely populated
Authorities may reclassify greenbelt land allowing for developments
Example:
Maghull, North Liverpool
New homes on greenbelt land - conflict between stakeholders (env vs social)
UK migration policy
EU 1973-2020 Open borders
Some restrictions post 2010 - conservative governments
Free movement ended in 2020
Post-brexit focus on skills, english proficiency and education
Positive impacts:
Migration filled labour shortages
Migrant innovation/entrepreneurship created wealth
Population growth - more consumer spending boosted GDP + local services
Negative impacts:
Pressure on public services and housing
Lower wages due to larger labour supply
UK Deregulation of Capital Markets
1986 Thatcher Government
Foreign firms now able to operate more freely in London - foreign investment no longer requires government approval
Encouraged global flows of capital - economic globalisation
Overseas investors purchased 13% of new homes built in London 2014-16
Positive impacts:
London financial hub attracting international FDI
Rapid GDP growth in service sector (especially in finance/banking)
Indirect investment (e.g properties)
Encouraged entrepreneurship
Banking and finance 30% of UK GDP by 2008 (doubled)
Negative impacts:
Widening regional inequality (success depends on spatial scale)
Unoccupied properties - worse for long term economic growth
Over-reliance on finance sector for
economy
Fracking
Fracking permission is controversial as some believe the environmental costs outweigh the economic benefits
More suitable in rural areas with a lack of investment
Cambridge Science Park
Science parks are labs and offices focused on quaternary industries, usually found in enterprise zones
High tech companies collaborate with local universities, utilising areas of expertise
Regeneration aim:
Raise value of businesses operating in the local area
Attracting quaternary businesses brings highest-paid employment, creating wealth
Cambridge:
130 companies (30% foreign)
industries: biotech, communications
7250 employees
London 2012 Olympic Park
Controversial - differing attitudes may cause conflicts
Regeneration schemes should consider players:
Trade unions - worker rights
Local interest groups - e.g env preservation
2012 Olympic Bid promised to transform Stratford
Clays Lane Housing (affordable, built 1977) demolished, making place for athletes village:
- 450 displaced people (relocated to poorer housing)
- £8500 compensation
Glasgow Culture-led rebranding
Deindustrialisation
1990 Selected for ECOC
Tourism revenue £23mn
Gentrification - loss of social housing (positives and negatives)
Lack of high-skilled employment created - only a short term economic boost
Not enough to drive economic multiplier effect long-term
Gunwharf Retail-led rebranding
Deindustrialisation
30k jobs lost (ship building)
Brownfield land redeveloped
Spinnaker tower cost £35mn - tourism
Sense of place maintained with historical artefacts
Gentrification (positives and negatives)
Has drawn shoppers away from declining city centre - dereliction
Unaffordable housing
Will be successful long-term if revenue reinvested into city centre and transport links
Major boost to local economy - tourists from overseas, high-end shops
Penrhyn Tourism-led rebranding
Rural hazardous slate mine in Wales
Longest zip line in Europe
Company now worth £100mn
Brought tourism to Northern Wales
Created new jobs, economic growth
Successfully rebranded
Long term growth - multiplier effect
Controversial due to worker deaths in the quarry in the past - disrespectful
Stratford Leisure-led rebranding (2012 Olympics)
Severe deprivation, high unemployment - lack of investment
2012 Olympics served as a catalyst for regeneration
Stratford link added to Jubilee line, creating employment opportunities
560 acres of land regenerated, new stadium constructed
FDI created 50k jobs - multiplier effect
Attracting investment
97% reusable materials
Increased visitors for sports events - spending in local economy
Only 1200/3000 homes were affordable
Cost of living has risen a lot
3.3mn tonnes co2 released
Success depends on spatial scale
Lake District National Park - Tourism-led rebranding
Natural beauty under-utilised for economic development
19mm visitors spending only £1.5mn each year
Activities to increase spending:
GoApe, Sailing on Lake Windermere
£LD200k local currency to boost spending
£LD use declined as cashless became more popular
Footpath erosion, increased congestion and noise/air pollution - local residents
Rebranding in rural areas
Rebranding aims to regenerate places by changing public perceptions
Rebranding harder for less accessible rural places
Inaccessible rural areas tend to focus on natural beauty and advertise unspoiled landscape
Many activities in rural areas don’t generate income for local economy (e.g walking, cycling)
