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Mayor’s plan to double London road spending given the green light

  • 14 December 2012
  • By Ashleigh Wight

The Transport for London (TfL) board has approved the 10 year Business Plan set out by the Mayor of London, which includes plans to double road spending during the next decade.

The Mayor’s Roads Task Force, which will advise Mayor Boris Johnson on developing London’s road network, will now set out its specific priorities for road investment in the coming year.

Likely measures include reducing congestion by increasing the number of variable message signs at junctions and improving traffic light sequences within the capital.

TfL’s own research has already identified road spending is among London businesses’ top concerns, with a sample of 68 of TfL’s key business stakeholders citing that road spending was among their top three investment priorities.

95% of the businesses surveyed by ComRes for TfL also said that any cuts to transport investment would damage their prospects in the long term.

London’s Transport Commissioner Peter Hendy said: “Businesses in London recognise that stable and sustained investment in transport infrastructure is vital to drive economic growth in London and across the UK. It also supports jobs and manufacturing up and down the country- particularly in the East and West Midlands, North West and Yorkshire.”

TfL is planning to negotiate with the government for funding beyond 2014, when its current funding commitment comes to an end.

The previous 2009/10 Business Plan, which set out its transport investment plans up until the 2017/18 financial year, committed TfL to £7.6bn in savings. It has already secured £9.8bn of these.

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Article source: http://www.commercialmotor.com:80/latest-news/tfl-10-year-business-plan-given-the-green-light