Recommendation 22

The Department confirmed to us that “At the moment we are expecting the private sector to fund the station and all the development. The benefit for developers comes from the commercial housing development.”44 It confirmed that this included looking for private funding to cover the whole cost of running from Old Oak Common to Euston.45 We noted that the Treasury had previously rejected the idea of Euston being privately funded; the Department replied that the Treasury stance had changed and that “They are now very supportive of us seeking private sector-led investment.”46 The Department told us that the expectation is that a development corporation will be set up to take the Euston plans forward, but that there are different sorts and it would be working with DLUHC and the Treasury “to develop the best possible plan to secure the ambition for Euston.”47