Holborn struggles with 100,000 passengers a day

Holborn struggles to cope with its 100,000 passengers a day Credit: ITN

Following the announcement that seven government departments have provisionally agreed to reduce their budgets by up to 10%, underground and business leaders are urging the Chancellor not cut funding for major tube projects.

They say schemes like the planned £250 million makeover of Holborn station are vital.

Holborn serves the 'midtown' business district but is closed several times during rush hour because it can't cope with its 100,000 passengers a day.

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Businesses back Holborn refit

While seven government departments have agreed to reduce their budgets, tube bosses have teamed up with business leaders to urge George Osborne NOT to slash funding for major underground projects like a much needed regeneration of Holborn station.