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£9.5bn set to be spent on road and transport upgrades

  • 26 June 2013
  • By Christopher Walton

The Department for Transport was the big winner during the Chancellor’s Spending review today (26 June) as George Osborne committed £9.5bn to capital spending on Britain’s transport infrastructure in the final year of the coalition government.

For financial year 2014-15 spending on capital projects at the DfT will be capped at £8.9bn, increasing to £9.5bn in financial year 2015-16. The funds are earmarked for both national and local roads, as well as budgets at Transport for London (TfL) and High Speed 2.

More details will be published by the Treasury tomorrow in the document Investing in Britain’s Future.

Osborne said: “The DfT will make a 9% saving in its day to day resource spending, bearing down on the running costs of TfL and rail administration; but its capital budget will rise to £9.5 bn – the largest rise of any part of government. And we will repeat that commitment for every year to 2020.

“We’re already massively expanding investment on major road schemes; but we will do more. So we’re announcing the largest programme of investment in our roads for half a century.”

James Hookham, Freight Transport Association MD of policy and communications, said the FTA was anxious to work with the government to make sure the money was invested in projects on which economic recovery depends.

“It is vital that the money made available today is put to work in the right places to deliver the biggest possible benefit to the country.  Our list of trade routes, which has been supplied to the Treasury, maps where these priorities are in the country,” he added.

British Vehicle Rental and Leasing Association chief executive, Gerry Keaney said: “We welcome the Chancellor’s clear message that capital investment in roads and other transport infrastructure needs to be a priority. Nine out of ten passenger miles are travelled on UK roads, as is the majority of freight movement.

“Britain urgently requires major investment in its roads and road maintenance and we would urge the government to look at a fairer distribution of the £47bn raised in motoring taxes each year. Taxpaying road users deserve more for their money,” he said. 


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