The Transport Secretary has announced funding for the country’s transport network, sustainably driving growth across the country while managing the pressures of inflation.

As part of the government’s largest capital programme commitment ever, over £40 billion will be invested in transformational transport schemes over the next 2 financial years across the country, helping to level up local communities and deliver on one of the government’s 5 priorities to grow the economy.

This includes a continued investment in delivering HS2, which will grow local economies, provide a green transport solution and train a skilled construction workforce, as well as almost £8 billion in investment over the next 2 years in major roads – the nation’s economic arteries, which support the bulk of passenger journeys.

With over £20 billion spent on Phase One already, the government will prioritise delivering the opening stage of HS2, with the first high-speed rail services running between new stations at Old Oak Common in west London and Curzon Street in Birmingham by the early 2030s. This will be transformative for passengers and communities, ensuring that the earliest benefits of HS2 are retained – creating jobs, attracting investment and sparking housing and commercial regeneration along and beyond the route.

Mark Harper, Transport Secretary, said:

"We know the power of transport as an engine for sustainable economic growth. That’s why – even in this tough economic climate – this government sees transport investment as a down payment on the country’s future and is committing £20 billion over each of the next 2 years to improve the UK’s transport network."