Budget: Chancellor admits transport investments will get £1.5bn of new money
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Chancellor Rishi Sunak has admitted that out of the £7bn pledged for transport investments, only £1.5bn has not yet been allocated, the Independent reported.
Speaking this morning on Trevor Phillips on Sunday, Sunak said the government “topped that up by £1.5bn” when asked about the actual amount of funding that will come from new money.
The news comes after the Treasury announced over the weekend that funding will amount to more than £20bn, with £7bn destined to levelling up the transport system outside of London.
Speaking about rail projects, Sunak did not confirm whether the eastern leg of HS2 will be part of the government’s spending. He also declined to comment on whether the Northern Powerhouse Rail – that will link Manchester and Leeds – will be be built.
Sky News reported that, according to Sunak, an announcement will be made soon.
A “major strategic rail programme” to support the North’s economy, the Northern Powerhouse Rail will focus on upgrading railway lines, improving journey times and boosting the number of trains per hour.
“This transformational Northern Powerhouse Rail project will connect our towns and cities like never before, giving confidence to investors, as well as being at the heart of our decarbonisation strategy,” said Transport for the North’s chief executive Martin Tugwell.