Magazine article Public Finance

Major Transport Projects Could Still Be Killed Off

Magazine article Public Finance

Major Transport Projects Could Still Be Killed Off

Article excerpt

Tile government's commitment to major transport projects could come under threat in October's Spending Review, a leading academic has warned.

Chancellor George Osborne has pledged to continue several schemes, such as the High Speed Rail 2 link and upgrades to the Tyne & Wear metro system and the Manchester Metrolink. He also committed to protecting capital spending in his June 22 Budget statement.

But the Department for Transport has been told to make £683m worth of cuts this financial year. Because of its high proportion of capital spending, its revenue spending Is likely to be hit harder.

In May, the department said it would be cutting: £309m from local authority grants; £108m in its grant to Transport for London; deferral of £54m for lower priority schemes such as some highway improvements; and £112m in its direct expenditure. …

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