CIHT: Has transport been protected?
CIHT has been looking at the Comprehensive Spending Review 2010 (CSR2010) announced yesterday by the Chancellor of the Exchequer.
Over the next 4 years, CSR2010 has outlined £30bn that is to be spent on transport investment. This includes £14bn of funding for Network Rail, £10bn of investment in key roads and local transport schemes across the country and £6bn of capital expenditure by Transport for London.
The regional (England) rail and road projects that will go ahead over the next 4 years are:
Eastern England – A11 upgrade
East Midlands – M1 and A46 improvements
London – M25 to be widened between ten junctions and the improvement to the A3 at Hindhead will be completed. Crossrail will go ahead and important tube lines will be upgraded.
North East – £500 million will be spent refurbishing the Tyne & Wear metro and the Tees Valley bus network.
North West – The government will invest in rail electrification between Manchester, Liverpool,Preston and Blackpool. Funding will be provided for a new suspension bridge over the Mersey at Runcorn.
South West – Improvements to the M5 and M4 and a new transport scheme for Weymouth will be funded.
Yorkshire and Humber – Investment on the M62 will allow higher traffic capacity and £90 million will be spent to improve rail platforms across the region.
West Midlands – The Midland Metro will be extended and Birmingham New Street station will be redeveloped.
There have been some significant levels of reduction announced as well, the wider Transport for London budget is to be reduced by 28% and the Department for Transport will also have its budget cut by 21% over the period to 2014-15.
The highways and transportation sector has a vital role to play in the development of the UK’s economic prosperity. Transportation is fundamental to the economic, social and environmental wellbeing of the community. It makes important contributions to economic development, regeneration, accessibility, social inclusion, community safety, education, health and to people’s quality of life.
The decisions that have been made in CSR2010 will have a significant impact on not only the highways and transportation sector but also on the rest of the UK’s industry and society.
CIHT is to review the full details of the impact of CSR 2010 on the highways and transportation sector and will be releasing a more detailed analysis as additional information is made available. If you would like to be a part of these discussions or would like to make your opinion known to the Institution, please contact our Director of Communications on e: Daniel.Isichei@ciht.org.uk