Millions of commuters and businesses are set to benefit from quicker journeys, as more than 50 rail and road upgrades are given the green light which have been announced.
Working people will also gain better access to jobs and housing through these schemes, helping deliver the Plan for Change to build strong foundations and kick-start economic growth, made possible by the government’s investment unlocked in last month’s Spending Review.
The government has announced key rail projects across the country, including reinstating a passenger rail line between Bristol city centre and Portishead, which last ran over 60 years ago, delivering 3 brand new train stations, bringing thousands more people closer to a railway and funding a Midlands Rail Hub, creating brand new rail links for more than 50 locations.
Rail investment outside of London and the South East is overdue, which is why the government is confirming additional funding right across England and Wales, which will improve access to jobs and leisure and stimulate housing growth in the regions.
Transport Secretary Heidi Alexander said:
"Transport is the backbone of our economy, which is why we are giving them the record funding boost they need, putting taxpayers’ money where it matters most and making everyday journeys easier.
With over £92 billion investment, including the biggest ever boost for city regions in the north and Midlands, we’re delivering the schemes that fast-track economic growth and jobs, connect communities, and will help us build 1.5 million new homes, as we deliver our Plan for Change.
We’re forging ahead with the vital new transport infrastructure Britain needs, and improving what we’ve already got, to deliver a new era of renewal and opportunity.
Over 42,000 new jobs and 39,000 new homes are estimated to be supported thanks to the funding committed for major road schemes, helping deliver the government’s Plan for Change to boost economic growth, and build 1.5 million more houses over 5 years.
Journey times will be slashed, saving commuters, businesses, and freight thousands of hours every week, and boosting economic growth across the whole country.
Of the £92.8 billion to be spent on transport infrastructure, the Chancellor has already announced £10.2 billion for rail enhancements, improving connectivity and unlocking growth in key areas of the UK, which have for too long struggled with unreliable, infrequent services.
Chancellor of the Exchequer Rachel Reeves said:
These vital investments are long overdue, will transform local communities and improve living standards across the country.
Investments like these are only possible because we took the right decisions to stabilise our public finances and changed the fiscal rules so we can invest in Britain’s renewal, grow the economy and put more money in working people’s pockets.
In addition, the government is investing a further £27 million to reinstate passenger rail services between Portishead and Bristol city centre. The new hourly services will connect an additional 50,000 people to the rail network and support a significant new housing development.
Two new stations, Wellington and Cullompton, have been given the green light in the south-west of England, unlocking significant new housing developments and providing more chances for people to access Exeter to visit loved ones and benefit from increased leisure, education and employment opportunities. Similarly, a new station at Haxby will now be delivered, bringing an additional 20,000 people within 3 kilometres of the railway, providing easy access to the regional centres of York and Leeds.
The Midlands is also set to see a huge improvement to its rail services. The new Midlands Rail Hub will be the region’s biggest and most ambitious rail improvement scheme to date. Significant government funding will mean huge numbers of additional trains and extra seats can be added to the rail network in and out of Birmingham every single day. This will support new homes and create greener growth across the Midlands while providing faster, more frequent and brand new rail links for more than 50 locations and creating almost 13,000 construction jobs.
Investment will also benefit existing rail users. The East Coast Main Line, which runs the length of the country, is already benefiting from an increase to capacity and frequency and will also receive new, upgraded digital signalling, boosting capability and resilience of the line, and reducing delays by one third. This rollout will support new digital skills in the rail sector and the creation of 4,800 new roles across the supply chain.
This continued funding for rail schemes up and down the country will open up access to jobs, grow the economy and drive up quality of life as the Plan for Change is delivered.
John Foster, Chief Policy and Campaigns Officer, CBI said:
Improving transport connectivity is key to unlocking the productivity gains needed to deliver sustainable growth across the country. When businesses can move people, goods, and services more efficiently, it helps them to reach new markets faster and attract the talent they need to grow. The announcement is a welcome step forward and builds on a strong series of planning reforms aimed at delivering the long-term infrastructure the UK economy needs.
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