Rishi Sunak's Pledge Reliant on Private Cash

The future of HS2, the high-speed rail line, reaching central London is in doubt after it was revealed that Chancellor Rishi Sunak's pledge to extend the line to a new station at Euston relies on unconfirmed private sector funds.

No Government Money Reserved

In his conference speech, Prime Minister Boris Johnson announced that the line would run from Birmingham to Euston; however, it has now been disclosed that this will only happen if private firms contribute the necessary funds, with no government money earmarked for the project.

Potential Stop at Old Oak Common

If private sector cash fails to materialize, HS2 could potentially only reach Old Oak Common, which is miles away from the city centre, leaving central London without a high-speed rail connection.

Regeneration Project Without a Station?

The plan for a "Euston development zone" with a high-capacity station may only be an aspiration rather than a firm commitment, depending on the availability of billions of pounds in private sector funds. This raises the possibility that Euston could become a regeneration project without a functioning station.

£36 Billion "Network North" Scheme Unveiled

Yesterday, Chancellor Rishi Sunak introduced a new transport scheme called "Network North" with a budget of £36 billion. This initiative aims to improve rail and road travel across the UK.

HS2 Birmingham-Manchester Link Scrapped

In order to finance the "Network North" scheme, the expensive HS2 link between Birmingham and Manchester has been cancelled. The money saved from this cancellation will now be redirected towards the development of an east-west rail link and a tram network in Leeds.

Benefits for Motorists

Motorists can expect 70 major upgrades, including improvements to the M6 motorway and the A1, as well as resurfacing projects throughout the country. The funding for these improvements is drawn from the savings made by scrapping the HS2 northern line.

Changes in Business Travel Post-Covid

Prime Minister Boris Johnson has stated that the economic case for the HS2 northern line has been "massively weakened" due to changes in business travel patterns following the Covid-19 pandemic.