Wednesday 26th Oct 2016 - Logistics Manager

Chancellor promises funding for key transport schemes

Chancellor George Osborne has said that he wants to protect high value transport maintenance and investment that supports growth in his Comprehensive Spending Review.

He said high quality transport links were essential to underpin a successful economy. In 2014-15, transport capital investment would be higher in real terms than 2005-06 levels.

Some £10 billion will be invested over the review period on maintenance and investment in road, regional and local transport schemes, while seeking significant cost reductions across the programme. Projects include:

* widening the remaining section of the A11 to provide a continuous dual carriageway link between Norwich and the M11;

* improving the junction between the M4 and M5;

* easing congestion on the M1 between junctions 28 and 31;

* extending the route and increasing capacity on the Midland Metro;

* constructing a new suspension bridge over the River Mersey; and

* upgrades to the Tyne and Wear Metro.

* more than £14 billion will be provided for Network Rail,

* funding will be made available to enable Crossrail to go ahead

* £6 billion will be spent on upgrades and capital maintenance on the London Underground network,

* plans for a new high speed rail network from London to Birmingham, and then to both Manchester and Leeds, will go ahead.