Chancellor George Osborne has 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.
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
For further information, visit: https://www.gov.uk/government/news/department-for-transports-settlement-at-the-spending-review-2015