In a move described as ‘dynamite’ by Metro Mayor Steve Rotheram, Chancellor Rachel Reeves opens the door to a £5bn project to transform Liverpool Central station and the surrounding area. Tony McDonough reports
Plans for the £5bn project to transform Liverpool Central station and the surrounding area have moved a step closer to reality.
Chancellor Rachel Reeves says the scheme will be one of a number across the UK being used as a test for how the Government assesses the business cases for major infrastructure projects.
In a speech in Birmingham, Ms Reeves said schemes in Liverpool, Plymouth, Port Talbot and Birmingham would be included in a review of the so-called Green Book. This is a guide that provides a framework of costs, benefits and risks.
Liverpool City Region Metro Mayor Steve Rotheram is one of a number of advocates for the reform of the Green Book which many claim is skewed towards favouring projects in London and the South East over those in the regions.
Mr Rotheram is seeking £2.5bn from the Government’s transport budget for the Central Station project, which has a £5bn gross development value. He hopes to secure planning consent for the development in 2026.
Both the Combined Authority and Liverpool City Council see the 150-year-old station, which has its main entrance on Ranelagh Street, as a major gateway between the retail core of the city centre and the fast-growing Knowledge Quarter.
These plans would reimagine the whole area between Liverpool Central, one of the busiest underground stations in the UK, and Lime Street station, incorporating multi-billion pound plans for a new high speed rail link between Liverpool and Manchester.
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Speaking to Place North West following the Chancellor’s speech, Mr Rotheram said of the Green Book announcement: “It’s dynamite for us… what we’re doing, it’s a bit like Kings Cross St Pancras.”
He added: “This is not about money. This is about the approach to the money. It’s not just about ‘if you give us a billion pounds we can do it’.
“It’s about providing developers with the confidence that the Government has assessed this as more than just a transport scheme and the whole thing makes sense.”