South East to benefit from £6.5 billion transport investment
Multibillion-pound plan to link major cities via bus, rail and new and improved roads includes funding for South East transport schemes
- government to redirect vast HS2 savings into unprecedented transport investment across the country, benefiting more people, in more places, more quickly
- HS2 will finish its journey at Euston as planned – with a transformed ‘Euston Quarter’ potentially offering up to 10,000 new homes in a huge regeneration project
- the new plan for Euston will also unlock £6.5 billion of savings, freeing up funds to tackle congestion on the South East’s busiest roads
The South East of the UK will benefit from a transformed ‘Euston Quarter’ and revitalised roads in a major funding boost to create stronger public transport networks.
A total of £36 billion in savings from HS2 will be reinvested in hundreds of transport projects across the country, delivering more buses, reopening railway stations and ensuring major funding for new and improved roads.
Today (4 October 2023), we have announced the Network North plan, which will still see HS2 delivered between Birmingham and Euston in central London.
But every penny that would have been spent extending the route will instead be redirected into roads, rail and buses to drive economic growth and provide jobs.
In London, the government will look to establish a Development Corporation to create a transformed ‘Euston Quarter’, modelling the successful regeneration of Battersea Power Station, Nine Elms and Kings Cross.
It will potentially offer up to 10,000 homes – 5 times the number of its close neighbour King’s Cross – and a huge expansion of commercial and laboratory space.
This new approach will look to leverage private sector investment, unlocking £6.5 billion to invest in projects that people and communities really need around the country – including the South East.
Further benefits for the South East will also include:
- funding to ensure the delivery of road schemes including the A2 at Brenley Corner, a notorious bottleneck on the corridor to Dover
- £290 million in funding to ensure the delivery of 14 road schemes across the South East, among them the A259 between Bognor Regis and Littlehampton
- access to a £2.8 billion roads resurfacing fund for the South East, South West and East of England to combat the potholes causing misery for drivers
- a further £1 billion fund will be launched for new road schemes
- the popular £2 bus fare will also be extended until the end of December 2024 instead of rising to £2.50 as planned