Chancellor George Osborne has announced a cash boost for a new station at Brent Cross.

The station will be funded from a combination of a £97m government grant, and by ring fencing business rate growth from the expanded shopping centre to pay the remainder.

The station will be a 12-minute journey from Kings Cross.

Leader of Barnet Borough Council, Councillor Richard Cornelius, welcomed the Chancellor’s budget announcement.

Cllr Cornelius said: “This is the final piece of the Brent Cross jigsaw after confirming Argent Related as key developers for Brent Cross south. We have been working very closely with the Treasury and the Mayor’s Office to make this happen.

“The Chancellor’s decision today unlocks the potential for the Brent Cross development to create up to 27,000 jobs and 7,500 new homes.

“It is very difficult to overstate the importance of this redevelopment to Barnet. The council is committed to playing an active role in the development of the south side of the site to get the best financial deal for the taxpayer and to play our part in creating a thriving London neighbourhood."