To ask the Secretary of State for Transport, what estimate he has made of the amount of private finance required to deliver the HS2 Euston quarter development; and how much private finance has been secured for the project as of 8 May 2024.
Answered on
13 May 2024
The Government remains committed to delivering a privately financed HS2 Euston station as part of a transformed ‘Euston Quarter’ outlined in the Network North paper. The Department continues to define and develop a range of development models and financing mechanisms to best meet the objectives of the ‘Euston Quarter’, ensuring that funding is underpinned by contributions from those people and businesses this development supports. This includes consideration of options for using alternative funding to cover the section of HS2 from Old Oak Common to Euston. Euston sits in an internationally significant commercial district close to a world-leading cluster of scientific, research and development institutions, providing a significant opportunity to leverage private sector investment and minimise up front cost to the taxpayer. Government is continuing to engage with a range of stakeholders and delivery partners and there is already extensive support and interest from the private sector.