Source · Select Committees · Public Accounts Committee
Recommendation 23
23
Accepted
Euston remains HS2 London terminus ambition, but its delivery date remains uncertain.
Conclusion
The Department confirmed it remains the Government’s ambition that Euston be the London terminus for HS2.48 But it confirmed it was still expecting trains to stop at Old Oak Common for a period of time before Euston was developed, because Euston would not be up and running in the same timeframe. The Department could not give any date or range of dates for when it thought Euston might be delivered.49
Government Response Summary
The government agrees with the committee's observation, reaffirming its ambition to deliver HS2 to Euston as the London terminus and committing to developing funding models and financing mechanisms to enable this, with ongoing preparatory works for tunnelling.
Government Response
Accepted
HM Government
Accepted
4.1 The government agrees with the Committee’s recommendation. Target implementation date: Summer 2024 4.2 The government’s ambition remains to make the best use of funding from alternative sources to enable the delivery of HS2 to Euston and the creation of a transformed Euston Quarter. 4.3 Work is currently underway to develop funding packages and financing mechanisms that best meet the objectives of the Euston Quarter while delivering value for money for the taxpayer. The approach aims to use private sector discipline and maximise the level of private investment to deliver the descoped transport infrastructure at a lower cost alongside more ambitious housing and regeneration opportunities. 4.4 The government agrees with the Committee’s recommendation. Target implementation date: Winter 2024 4.5 As set out in the Network North command paper of 4 October 2023, the government remains committed to delivering HS2 between Birmingham and Euston as planned. 4.6 The government’s ambition is to make best use of funding from alternative sources to enable the delivery of HS2 to Euston. The government continues to define and develop a range of development models and financing mechanisms to best meet the objectives of the Euston Quarter while delivering value for money for the taxpayer. 4.7 This includes the consideration of options to pay for the section of HS2 from Old Oak Common to Euston. The department and HS2 Ltd are currently working on these options with preparatory works continuing in the meantime ahead of the commencement of tunnelling.