Reeves gives transport £15.6bn boost
Chancellor of the Exchequer, Rachel Reeves, has unveiled a £15.6bn investment in the country’s transport network. One of the first parts of the upcoming Spending Review to be announced, it includes a number of regions that will have investments made into their bus networks. The money is particularly being focused on investing in the north and Midlands of England.
The funding represents a more than double real-terms increase in capital spending on local transport in city regions by 2029/30 compared with 2024/25.
Taking a £2.5bn share of the investment, Greater Manchester is to push for a fully electric Bee Network, with zero emission public transport network across bikes, bus and tram by 2030, including purchase of 1,000 new electric buses.
Of South Yorkshire’s £1.5bn, it is to invest £350m to reform the region’s buses, with franchised buses operating in Sheffield, Doncaster and Rotherham by 2027 and across the whole of the area by 2029.
£100m of Liverpool City Region’s £1.6bn is to be spent on three new bus rapid transit routes, to the Liverpool John Lennon Airport, Everton stadium and Anfield. There are also plans for buying a brand-new fleet of buses for the city region’s franchised bus network, beginning with St Helens and the Wirral in 2026 and then Sefton, Knowsley, North and South Liverpool in 2027.
The £2bn for the East Midlands is to be used to develop links between Derby and Nottingham, including bus enhancements.
New bus stations for Bradford and Wakefield are due thanks to West Yorkshire’s allocation of £2.1bn.
“With £15.6bn of Government investment, we’re giving local leaders the means to drive cities, towns and communities forward” – Transport Secretary, Heidi Alexander
Transport Secretary, Heidi Alexander, said: “Today marks a watershed moment on our journey to improving transport across the North and Midlands – opening up access to jobs, growing the economy and driving up quality of life as we deliver our Plan for Change.
“For too long, people in the North and Midlands have been locked out of the investment they deserve. With £15.6bn of Government investment, we’re giving local leaders the means to drive cities, towns and communities forward, investing in Britain’s renewal so you and your family are better off.”
“It is vital that a healthy chunk of the money is spent on buses” – Graham Vidler, CEO of the Confederation of Passenger Transport
Graham Vidler, CEO of the Confederation of Passenger Transport, said: “Millions of people who live and work in city regions will welcome this investment in public transport. It is vital that a healthy chunk of the money is spent on buses, which account for two out of three journeys and are by far the nation’s favourite form of public transport.
“Buses are the most flexible and cost effective way of getting around towns and cities. And they deliver value – every pound invested in buses generates £4.55 of economic and environmental benefit. Some of this funding could be used to speed up journeys by investing in bus lanes and priority schemes to allow public transport to bypass congestion.
“We look forward to seeing this money for city regions matched in the Spending Review next week with both capital and revenue funding across the country to ensure that all passengers, no matter whether they live in a village, town or big city, can benefit from faster, more frequent and better buses.”