Department of Environment and Transport
Press Notices: SR2000/DETR1
A doubling of public capital investment in transport will provide the launchpad for a ten year strategy that will deliver a transport system of which we can be proud.
The Spending Review
2000 settlement announced today by Chancellor Gordon Brown sees transport
capital investment rise from £2,332 million for 2000-01 to £6,176
million for 2003-04 with total spending rising from £5 billion
in 2000-01 to over £9 billion in 2003-4 (an average annual increase
of 20 per cent in real terms over the three years to 2004).
Welcoming the announcement,
Deputy Prime Minister, John Prescott, said:
"This is excellent
news. Better transport is a key element of a prosperous economy and
is essential to help improve the competitiveness of British business.
"The spending plans
announced today will help end decades of under-investment. They will
help lay the foundations for our 10 Year Plan for transport that will
give us a transport system to be proud of. And they will deliver a transport
network that is better for individuals, businesses and the environment."
Over the next three
years, the funding announced today will help:
And starting now
means that by 2010 the Government's 10 Year Plan will deliver the following:
The Spending Review
funds the first three years of Transport 2010: The 10 Year Plan,
due to be launched shortly by the Deputy Prime Minister.
This will set out
a long-term plan for modernising transport infrastructure with investment
by the public and private sectors 75 per cent higher in real terms than
the last ten years. It will introduce a balanced package that tackles
road congestion through improving public transport and targeted investment
in the road network.
1. Further details
on the rest of the DETR spending programme are set out in a separate
press notice - see SR2000/DETR1.
2. Transport Spending
over the Spending Review period will be:
3. The Ten Year
Plan for Transport will be published shortly.
4. For further details please contact the DETR Press Office on 020 7944 3118.