Chancellor Confirms HS2 Extension to Euston

Chancellor Rachel Reeves has confirmed funding for the HS2 high-speed rail tunnel to extend into London Euston, ensuring the line connects central London to Birmingham, despite previous plans to end at Old Oak Common. This decision reverses the prior Conservative government's stance, which depended on private investment for a Euston station, and follows the cancellation of the Birmingham to Manchester leg due to cost overruns. The announced funding, estimated at around £1 billion, does not cover station construction, with hopes the private sector will invest. The commitment aims to spur local economic growth and alleviate disruptions in areas affected by construction, such as Camden. City Hall's budget allocation also includes TfL improvements, potentially enhancing other transport lines. The HS2 project costs have escalated to over £100 billion, highlighting ongoing financial challenges.