By james art HS2 trains will be able to run all the way to Euston after Chancellor Rachel Reeves pledged to fund tunneling work to London Central Station.
She said the Government would “get a grip” on HS2 between London and Birmingham and guarantee funds to start work on a 4.5-mile double-barreled tunnel from Old Oak Common station in west London to Euston.
Reeves did not specify the level of public funding the tunneling work would receive, but it was previously estimated at around £1 billion.
Reeves said in her Budget speech that the transport secretary, Louise Hay, had “set out a plan to get HS2 under control”.
Reeves said: “Today we are securing the delivery of the project between Old Oak Common and Birmingham and committing the funding needed to start tunneling work to London Euston station. This will catalyze private investment in the local area, delivering jobs and growth.”
The fate of the southern end of the high-speed rail network has been uncertain since Rishi Sunak announced the discontinuation of the northern leg of HS2 in 2023. He said the last few miles in Euston would only be built if private funding paid for it, saving up to £6. 5 billion
There was widespread doubt, however, that only such funding would come in time to secure the rail link. A report by the Commons Public Accounts Committee in February declared that MPs were “highly skeptical” that the Government would be able to attract private investment on the “scale and speed required” to successfully extend HS2 to Euston.
Tunnel boring machines purchased from Germany were recently lowered into place at Old Oak Common.
Reeves’ words suggest that private finance is likely to be needed to redevelop Euston station itself, the estimated cost of which has risen to nearly £5bn.
Initial plans for the station, to include HS2 platforms as well as conventional rail services to cities in the north, were scrapped in 2020 and it is not yet clear how the site and surrounding area will be redeveloped.
after the promotion of the newsletter
The Mayor of London, Sadiq Khan, said: “After all the hesitation and delays from the previous government, the confirmation that HS2 will end in Euston will mean that the capital can finally realize the full economic benefits of the project.”
Reeves also confirmed existing plans to upgrade the TransPennine line and build an East West rail line, with the first services from Oxford to Milton Keynes next year.
Supporting budget papers released by the Treasury said the government was “sustaining the momentum of Northern Powerhouse Rail by progressing further planning and design to support future delivery”.