London & Continental Railways, the UK arm of Eurostar and builder of the new Channel Tunnel Rail Link, is in talks with the Treasury to move its £5.8bn debt mountain off the government's books. The Observer.

Rob Holden, chief executive said LCR could copy Network Rail, which has a £21bn debt pile.

This controversially remains off the government's balance sheet despite being backed by taxpayers.

He also revealed that LCR's shareholders, which include Bechtel, UBS, National Express and EDF Energy, have recently sold their remaining shares in the consortium to the government for £50m, finally recouping the investment they made over a decade ago.

This means they have no further liability to LCR