Euston questions remain following Network Rail report
The future of Euston Station remains uncertain following the publication of the Budget and a report into the future of Network Rail.
No funding commitments were given in the Budget on Euston Station, despite the House of Commons Select Committee recognising that Euston’s ultimate design needs a holistic approach and that the opportunity for such a redevelopment should not be wasted.
Nicola Shaw’s report “The future shape and financing of Network Rail” dismissed privatising the whole of Network Rail but asked for consideration and clarification of the Department for Transport’s role of funder, client and owner of the organisation. The report suggests that private sector involvement could be required to enable the regeneration of stations.
Councillor Phil Jones, Cabinet Member for Regeneration, Transport and Planning, said:
“The future of Euston Station remains deeply uncertain. The Shaw Report suggests that Network Rail’s ownership and funding mechanisms are open for review. Who is going to fund the redesign and redevelopment of Euston Station?
“A funded comprehensive approach to redesigning the mainline Euston Station and aligning its development with the proposed HS2 and Crossrail 2 stations, is vital to guarantee a world-class station, with affordable homes and new jobs, and to reduce the disruption Camden faces.
“The Government must clarify how this comprehensive redevelopment can now be achieved, or risk losing these benefits and the stations’ potential to generate £1 billion per year in economic growth for London.”