Autumn Statement: Chancellor maps out transport infrastructure funding

Date: Thursday, November 26, 2015 |

The Chancellor, George Osborne, has laid out a tranche of investment in transport infrastructure over the coming parliament, with £15.2bn put aside for the 'Roads Investment Strategy' by 2021 and an additional £6.9bn for highways maintenance.

Announced as part of the Spending Review was a further £0.5bn investment for the 'Local Sustainable Transport Fund' by 2021 along with a similar figure for large local major road spending. Consequently, transport spending makes up around 19% of the £120.4bn infrastructure spending in this parliament.

With £15bn put aside for the Roads Investment Strategy, this marks the greatest investment in the road network since the 1970s, the chancellor stated, with plans to resurface 80% of the strategic road network and introduce 1300 miles of additional lanes.

Meanwhile, Osborne added that Britain now has a "permanent pothole fund", with £250m put aside to tackle problem potholes on local roads over the next five years, on top of the £5bn set aside for road maintenance - which is claimed to be a £300m increase since the last parliament.

Localised funding will see £13bn overall investment in transport in the 'Northern Powerhouse', while London will receive £11bn support for transport investment, which will be spent on developments including new buses, a network of 'cycle superhighways', additional tube trains and Crossrail.

£4.2 has also been put aside for transport in the East, while £7.2bn has been allocated for transport in the South West, with projects such as the North Devon link road and A391 able to bid for funding from a new £475m Local Majors Fund.

Up to £250m funding, meanwhile, has been earmarked for a major new permanent lorry park in Kent to alleviate problems caused by 'Operation Stack', where lorries are lined up along the M20 motorway.

What Van? Britain's biggest and best van buyers' guide