Cuts Watch #174: local transport could face 90% drop in capital spending by 2014
The study was conducted by finance advisors Grant Thorton for the pteg group, which is made up of passenger transport authorities from the six city-regions. The detailed analysis concludes with a warning that transport spending is likely to take a disproportionate hit, and that funding for transport in the city-regions outside London is likely to be cut to such an extent that capital spend will fall by 90% by 2014-15.
Interestingly, this comes shortly after the Transport Select Committee launched a new inquiry to follow up the influential Eddington Report (2006), which looked at the role of transport in the economy, particularly in regional economic growth and development. I’m sure this new report will be high on their reading list.