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Transport funding

Local Sustainable Transport Fund (LSTF)

13 October 2010

In the lead up to this month’s Comprehensive Spending Review, we have seen some interesting developments on the local transport funding front, most notably with the planned Local Sustainable Transport Fund (LSTF) announced by Transport Minister Norman Baker late last month.

DfT and the Spending Review: what to expect

13 October 2010

Of course, nobody knows until the day itself (October 20) and even then, important details will probably trail out over the following few days. And don’t forget the art of spin will be in play, even if this is an era of brutal truths. We have no inside knowledge, but there are plenty of tea leaves…So what can we expect? Something over 25% expenditure cut (but not 40%) means some dramatic changes. But they won’t be wrought overnight, or even in the first year: they will accumulate over the next four years to generate the headline number.

An introduction to Tax Increment Financing (TIF)

13 October 2010

In his Party Conference speech on 20th September, the Deputy Prime Minister, Nick Clegg, committed to empowering local authorities with the ability to raise development funds from Tax Increment Financing (TIF). This will allow councils to borrow against future additional property tax revenues (in this case, Business Rates) from new developments to support the initial costs of a facilitating project, such as a new transport scheme. Elsewhere, TIF has revolutionised the way local transport and other development schemes are funded.

Speaker-by-speaker summary of seminar

07 October 2010

Adjusting to Government Spending Cuts: Using Local Sources to Pay for New Transport Infrastructure

SDG-led Business Case secures £68.3m for Blackpool Tramway upgrading

10 June 2009

Work on the final phase of the Blackpool and Fleetwood Tramway upgrading can now start thanks to the final confirmation of a £68.3m cash injection from the Government.

Transport Minister Sadiq Khan today announced full approval for completion of the upgrading of the Tramway. This announcement secures Central Government`s final contribution towards the £100 million upgrading programme, and allows the promoters to place an order for new vehicles and to appoint contractors for the scheme.

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