Chancellor’s rail investments mostly not new money

Chancellor’s rail investments mostly not new money

Chancellor Rishi Sunak has announced a £7 billion plan to improve trains and trams, mainly in the midlands and north, but only £1.5 billion of this is new. In a weekend interview, he said there would be £1.07 billion for projects in Greater Manchester, £830 million for West Yorkshire, £570 million for South Yorkshire, £1.05 billion for the West Midlands, £310 million for the Tees Valley, £540 million for the west of England and £710 million for Liverpool. Railway Industry Association chief executive Darren Caplan said: ‘Regional and city transport systems across the UK have a pivotal role to play in driving the economic recovery post Coronavirus, as well as boosting productivity and growth in the long run. We look forward to seeing the full details in the Comprehensive Spending Review on Wednesday 27 October.’ Greater Manchester Mayor Andy Burnham welcomed the news as ‘an important first step’ but shadow chancellor Rachel Reeves said she hoped the funds will help. She continued: ‘What we see from this government is lots of announcements and not much delivery.’

source= http://www.railnews.co.uk/news/2021/10/25-chancellors-rail-investments-mostly-not.html

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