Connect with us

Finance

UK to boost regional transport funds as part of levelling up plan

UK to boost regional transport funds as part of levelling up plan 1

LONDON (Reuters) – British finance minister Rishi Sunak is set to announce a 1.5 billion-pound ($2.1 billion) funding boost for public transport in regional English cities as part of Prime Minister Boris Johnson’s pledge to “level up” poorer parts of the country.

Sunak, who is due to deliver a half-yearly budget plan to parliament on Wednesday, is expected to increase the size of a five-year transport programme to 5.7 billion pounds from an initially planned 4.2 billion pounds, the Treasury said.

“There is no reason why somebody working in the North and Midlands should have to wait several times longer for their bus or train to arrive in the morning compared to a commuter in the capital,” Sunak said in a statement on Saturday.

Johnson wants to channel more investment to parts of the country where many voters switched their traditional allegiances to back his Conservative Party in his 2019 election triumph.

Sunak is expected to announce on Wednesday tighter controls on day-to-day spending while excluding longer-term investment spending from new budget rules.

Extra transport funding will also be provided for Scotland, Wales and Northern Ireland, the Treasury said.

($1 = 0.7277 pounds)

(Writing by William Schomberg; editing by William James)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now