Road and rail projects which have been highlighted by the Freight Transport Association (FTA) as key to the UK’s economic future have been given a lifeline in today’s Comprehensive Spending Review.
Chancellor George Osborne gave the logistics sector a welcome fillip when he announced that transport is one of the key components of securing the country’s growth; announcing that it will receive a £30bn investment in capital spending over the next four years, larger than the previous spending cycle.
James Hookham, FTA’s MD of Policy and Communications, said:
"We are encouraged with Osborne’s declaration of support for transport projects and it is good news that many of the Trade Routes that FTA identified to transport ministers as priority projects demanding further investment have been protected.
"While we have yet to learn the full details of other road and rail projects it looks like the message has got through: for future growth to happen infrastructure is not an optional extra but an absolute essential."
In its detailed CSR submission, FTA identified various priority projects that require safeguarding, including those mentioned by Mr Osborne in today’s announcement: M62, M25 and the M1. FTA awaits with keen interest further project updates which are expected from the Secretary of State for Transport next week.
Projects so far announced:
M62 to be expanded
New suspension bridge for Runcorn
M1 and A46 to be improved
M5 and M4 improvements
Weymouth transport scheme to proceed
A11 to Norwich to be upgraded
Widen M25 at 10 different junctions
A3 at Hindhead to be improved