{"id":139445,"date":"2024-05-08T15:13:23","date_gmt":"2024-05-08T14:13:23","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=139445"},"modified":"2024-05-08T15:13:23","modified_gmt":"2024-05-08T14:13:23","slug":"government-further-1bn-funding-for-hs2-euston-tunnels","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/government-further-1bn-funding-for-hs2-euston-tunnels\/139445\/","title":{"rendered":"Government expected to grant a further \u00a31bn funding for HS2 Euston tunnels"},"content":{"rendered":"<h2>The UK government is anticipated to officially approve over \u00a31bn of public funding for the construction of the <a href=\"https:\/\/www.hs2.org.uk\/\" target=\"_blank\" rel=\"noopener\">HS2<\/a> Euston tunnels linking Old Oak Common and Euston<\/h2>\n<p>According to the Financial Times, the government is expected to release over \u00a31bn in funding for the 4.5-mile <a href=\"https:\/\/www.pbctoday.co.uk\/news\/projects\/micro-tunnel-hs2-euston-line\/138205\/\">HS2 Euston tunnels<\/a> within a few weeks.<\/p>\n<p>Despite Rishi Sunak&#8217;s decisive and controversial reshaping of the \u00a367bn railway project, the tunnelling required to connect HS2 into central London has remained uncertain.<\/p>\n<h3>Euston&#8217;s redevelopment is being funded by private-sector capital<\/h3>\n<p>One Whitehall official told the Financial Times that &#8216;alternative funding&#8217; mechanisms, including a retrospective levy on developers, could ultimately pay for the tunnelling.<\/p>\n<p>&#8220;Essentially Euston&#8217;s redevelopment is being made possible by private sector capital, and that applies for work going forwards but it also applies for work going back in time&#8221;, they added.<\/p>\n<h3>The government halted HS2 London&#8217;s terminus in March 2023<\/h3>\n<p>The government halted progress on HS2&#8217;s London terminus and the associated tunnels in March 2023 to allow sufficient time to ensure the station design is both affordable and feasible for implementation.<\/p>\n<p>Subsequently, in October, the prime minister announced further constraints on the plan by cancelling the high-speed line north of Birmingham.<\/p>\n<p>Additionally, the government declared its intention to assume responsibility for the Euston development and seek \u00a36.5bn of private investment to construct the tunnels and station.<\/p>\n<p>The government has refused to comment on the Financial Times&#8217; &#8216;speculative&#8217; story about the tunnel.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The UK government is anticipated to officially approve over \u00a31bn of public funding for the construction of the HS2 Euston tunnels linking Old Oak Common and Euston.<\/p>\n","protected":false},"author":21,"featured_media":139447,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[473,947,928,280],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-139445","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-planning-construction-news","8":"tag-hs2","9":"tag-london","10":"tag-rail-network","11":"tag-transport"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Government expected to grant \u00a31bn funding for HS2 Euston tunnels<\/title>\n<meta name=\"description\" content=\"The UK government is anticipated to officially approve over \u00a31bn of public funding for the construction of the HS2 Euston tunnels\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/government-further-1bn-funding-for-hs2-euston-tunnels\/139445\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government expected to grant a further \u00a31bn funding for HS2 Euston tunnels\" \/>\n<meta property=\"og:description\" content=\"The UK government is anticipated to officially approve over \u00a31bn of public funding for the construction of the HS2 Euston tunnels\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/government-further-1bn-funding-for-hs2-euston-tunnels\/139445\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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