Rishi Sunak's Pledge Hangs on Private Funds
The future of the HS2 rail line reaching central London has been thrown into doubt after it was revealed that Chancellor Rishi Sunak's pledge relies on unconfirmed private sector cash. While Sunak promised yesterday that the line would run from Birmingham to a new station at Euston, it now appears that this will only happen if private funds are secured. If firms fail to contribute, the high-speed rail line would stop at Old Oak Common, miles away from the city centre.
Euston Terminus Hangs in the Balance
Sunak's vow to keep the Euston terminus at the heart of the HS2 line is also at risk. While the PM announced plans for a "Euston development zone" with "a station that delivers the capacity we need," it is understood that this is merely an aspiration, relying on billions of private sector funds. This means that Euston could potentially be a regeneration project without a station.
Alternative Plans Unveiled
In light of funding concerns, Rishi Sunak unveiled a £36 billion "Network North" transport scheme to improve rail and road travel. The project includes an east-west rail link and a tram network in Leeds, funded by saving costs from scrapping the HS2 link between Birmingham and Manchester. The plans also allocate funding for 70 major upgrades to roadways, including the M6 and A1 motorways, as well as nationwide road resurfacing.
Economic Case for HS2 Weakened
The decision to scrap the Birmingham-Manchester leg of HS2 was justified by Prime Minister Boris Johnson, who stated that the economic case for the northern line has "massively weakened" due to changes in business travel post-Covid. However, concerns are rising that without guaranteed government funding, the HS2 project may not reach its intended destination in central London.
