Magazine article Public Finance

Borders Railway Line to Reopen after 36 Years

Magazine article Public Finance

Borders Railway Line to Reopen after 36 Years

Article excerpt

Transport Minister Nicol Stephen has announced financial backing of £115m for the reopening of the Waverley railway line in the Scottish Borders.

In what would be one of the biggest transport projects approved by the Scottish Executive, the plan is to reinstate part of a route closed in 1969 under the UK-wide Beeching cuts.

Stephen said the Executive funding would pay for most of the cost of bringing the line back into use, subject to certain conditions.

These include the approval of the Waverley Railway (Scotland) Bill, currently before the Scottish Parliament, and conditions in a business plan being met. Any shortfall in the funding, which is based on 2002 estimates, will need to be met by the Scottish Borders Council and private investors.

Stephen's announcement this week is a major breakthrough in the long-running campaign to reopen the route, which originally ran from Edinburgh and through the Scottish Borders to Carlisle. …

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