David Briginshaw’s editorial once again makes some points for useful comparison with the UK. He says: “One of the problems facing railways is that the long-term nature of railway projects does not sit well with the short-term vagaries of the market or politics. It is possible to slow down the pace of construction, as is happening in Brazil, and projects can be postponed, but investors need to be aware that it can take time to restart a project or even accelerate the pace of work, especially if engineers and construction workers have been laid off.” Something worth taking note of with the UK Government’s recent ‘pausing’ of major projects in the UK. Briginshaw also says that Spain is pressing ahead with construction of the largest high-speed railway in Europe despite an economic crisis, recognising that major construction projects are an economic stimulus in themselves. This is a point worth noting when HS2 sceptics suggest that the money for HS2 could be better spent elsewhere. - SB
We read it in: International Railway Journal, page 4
