The regeneration of Euston Station could add £41 billion to the UK economy by 2053, according to new claims in a report published today by Camden Council.

The “Euston and HS2” report details the project’s potential to create jobs, boost businesses, and significantly improve connectivity across the country.

Camden council commissioned independent economic experts at Metro Dynamics to conduct the research.

It aims to emphasise the potential long-term benefits the regeneration work could bring whilst acknowledging its scale and complexity.

It comes after the Government announced its decision to pause construction at Euston in March 2023 over cost concerns over cost concerns.

Camden Council said in a statement: “We are in the process of reviewing the Euston Area Plan following the Government’s decision to pause construction of HS2 at Euston and to design the station at a reduced cost. Our updated Euston Area Plan will guide any development that takes place above and around the stations as part of this.”

The report outlines several ways the project would contribute to the UK economy if continued. The benefits listed include the creation of up to 55,000 new jobs, an anticipated increase in nearby property values, local business growth and improved connectivity across the UK.

Euston Station Reg
People walk inside Euston station in London. Credit: AP

Camden Council is urging the government to work collaboratively to ensure the project’s successful completion.

“This is a once-in-a-generation opportunity to transform Euston Station and unlock its potential as a major economic driver,” said the Camden Council spokesperson. “We are committed to working with all stakeholders to make this vision a reality.”

The report’s findings are likely to spark further debate about the Euston Station regeneration project.

 

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