Government acts as guarantor for Portishead railway

The government has announced it will be financially supporting the revival of a defunct rail line between Portishead in North Somerset and Bristol.
Transport Secretary Heidi Alexander confirmed the railway will be backed by a multi-million pound investment in the event the project goes over budget.
The line is seen as a critical way to ease traffic congestion and support economic growth in one of North Somerset's fastest-growing towns.
The government has pledged £27.6m towards the £182.21m scheme, bringing its total contribution to more than £47m.
In February, leaders of local councils and the West of England Combined Authority struck a deal with the government to put up another £30m locally.
The service, which was closed to passengers in 1964, is expected to significantly reduce commuting times between Portishead and Bristol city centre.
Announcing the funding, Ms Alexander said the line would "better connect people with jobs, education, and new opportunities".

The line from Bristol to Pill has already been restored for freight - although work would need to be carried out on this stretch of the line to make the track suitable for passenger trains.
Ms Alexander said the project formed part of the government's Plan for Change, aimed at boosting connectivity, building housing, and generating jobs.
The announcement comes alongside wider infrastructure commitments across the South West, including the approval of railway stations for Cullompton and Wellington, and upgrades to the A382 and other local roads.
The government said it was investing a total of £92bn in transport projects across the UK.
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