Department for Transport’s settlement at the Spending Review 2015

25 November 2015/Categories: CILT, Industry News, Active Travel & Travel Planning, Aviation, Bus & Coach, Freight Forwarding, Logistics & Supply Chain, Ports, Maritime & Waterways, Rail, Transport Planning

Chancellor George Osborne has today set out the state of the economy in the Autumn Statement and spending plans for the next four years in the Spending Review. The Chancellor used his speech to reveal details of the Department for Transport’s budget over the course of this parliament.

Osborne spoke of the ‘devolution revolution’ and declared Sheffield and Liverpool are to follow Greater Manchester in agreeing to elect local mayors. He also spoke of his commitment to ensure that the geographical imbalance of the UK is demolished with one of his main goals being to spread economic power and wealth through devolution equating to a ‘revolution in the way we govern this country’.

Here are the key points for transport and logistics:
• £46.7 billion capital investment by DfT over the next 5 years on High Speed Two (HS2), roads and local transport
• London to receive £11bn investment in transport infrastructure
• Kent will receive £250m to deal with Operation Stack
• permanent pothole fund and £5 billion investment on road maintenance
• £300m commitment to cycling
• overall operational resource saving of 37%

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