Uncertainty continues around the Euro star as it is only only making one trip a day, due to COVID19 restrictions.
With advanced talks to secure funding from the UK and France in order for it to get through the CIVID19 crisis. Though the acknowledgement of its importance by both the UK and Europe it has taken a looming cash crunch to get both parties on the same table.
The Eurostar is owned by the French and Belgian railways plus two international investment houses, which bought Britain’s 40 per cent stake in Eurostar’s parent company in 2015. The nationalized French railway SNCF has the largest share, with 55 per cent.
Though the UK having no involvement in the stats mentioned, the Euro star provides a vital, low carbon link between the UK and mainland Europe. The Eurostar in addition is a registered UK registered company with its head office in London it furthermore supports over 3000 jobs as a consequence.
Though no support of the British taxpayers so far, the Euro star contributes £800 million each year to the UK economy. With trips from London to Paris, Brussels and Amsterdam with 80-90 per cent less greenhouse gas emissions per passenger than the equivalent short-haul flights.
Though there is clear and strong case for the maintenance of this physical connection between the UK and Europe with its overwhelming evidence of benefit. It is unclear who’s court the ball is in, the UK has left the European Union and has stated that it is not a British company with France having a majority ownership of the service. Garnering a strong feeling in Westminster that financial commitment should not be led by Paris.
With both nations working on roadmaps out of lockdown and looking to recover from the economic setbacks endured. Demand is inevitable to return for the Eurostar but how that will be served is yet to be revealed.
