Spending Review 2020: £2bn for transport

Yesterday the Chancellor Rishi Sunak delivered his Spending Review 2020 speech. Within his speech he mentioned that over £2 billion is to be used to keep transport arteries open, subsidising rail networks. He also spoke of upgrading the railways and how they will help deliver the Prime Minister’s ten-point plan for climate change.

He also announced the launch of the new ‘Levelling Up Fund’ worth £4 billion in which any local area will be able to bid directly to find local projects.  The fund will be managed jointly between the Department for Transport, the Treasury and the Ministry of Housing, Communities and Local Government – taking a new, holistic, place-based approach to the needs of local areas.

To read his speech in full, click here.