Committee publication · Correspondence · 21 May 2026
Letter from the Permanent Secretary at the Department for Transport relating to HS2 Euston site visit and roundtable, 18 May 2026
From: Public Accounts Committee
Inquiry: Delivering HS2 and Euston
Summary
Lord Hendy, Minister of State for Rail, responds to the Public Accounts Committee's letter following a 18 May 2026 HS2 Euston site visit and roundtable. He outlines progress since 2023, governance structures (including the Euston Delivery Company and newly formed Strategy Board), private financing strategy aligned with the 10-Year Infrastructure Strategy, and community engagement measures including a Community Review Panel and Euston Community Hub.
Key findings
- Euston Delivery Company (EDC) established as DfT programme client and 'single directing mind' for the Euston Campus; to be formally constituted as a public body in autumn 2026.
- Government pursuing private finance model for Euston development; risk allocation between public and private sector to be determined through commercial negotiations and PPP appointment process.
- Euston Strategy Board chaired by Lord Hendy in April 2026, bringing together CEO-level attendees from delivery partners, government departments (MHCLG, HMT, NISTA), GLA, and London Borough of Camden.
- Proposed statutory development corporation for wider Euston Area to be locally led by Camden with oversight authority; will focus on housing, jobs, and infrastructure outside the campus.
- Community Review Panel and Euston Community Hub (open one year, 9,000+ visits) established to enhance transparency and coordinate engagement; additional resident protections including noise insulation and temporary rehousing.
Tone
ProceduralTopics
Key actors
Lord Hendy of Richmond Hill (Minister of State for Rail), Sir Geoffrey Clifton-Brown MP (Public Accounts Committee), Euston Delivery Company (EDC), London Borough of Camden, Greater London Authority (GLA), Network Rail, Lendlease (Master Development Partner), HM Treasury
Notable line
“Euston is key to realising the transformational growth benefits of HS2. We have made considerable progress since the 2023 pause, working collaboratively with partners to develop more affordable, integrated plans for the Euston campus.”
Key Quotes
“Euston is key to realising the transformational growth benefits of HS2. We have made considerable progress since the 2023 pause, working collaboratively with partners to develop more affordable, integrated plans for the Euston campus.”
“… the Euston Delivery Company (EDC) is a DfT-owned programme client acting as the single directing mind for the Euston Campus, the government-owned land on which the stations sit.”
“The precise risk allocation between public and private sector will be a matter for detailed commercial negotiations over the coming years, informed by specialist legal and commercial advice …”
“In exploring private finance, our core aims are to leverage private investment and the many benefits that it brings.”
Source · parliament.uk record ↗