Millions of people across the North and Midlands are set to benefit from £4.7 billion of further investment in local transport, made possible by the reallocation of HS2 funding.
It is the first transport project of its kind, being specifically aimed at smallers cities, towns and rural areas. It aims to empower local people and local leaders to invest in the local transport projects that matter most to communities.
Local authorities will receive funding from April 2025, giving them time to develop their funding proposals and prepare to hit the ground running to start delivering them as soon as possible. Over the seven years as a whole this funding will be on average at least nine times more than these local authorities currently receive through the local transport integrated block, which is the current mechanism for funding local transport improvements.
The announcement comes as part of the Government’s long-term plan to reallocate the £36 billion saved from HS2 Phase 2 into local transport improvements across the country.
By redirecting money that would have been spent on HS2, we are already seeing more investment in local transport in Mid Worcestershire, including more money to fill potholes and extending the £2 bus fare cap.
I welcome this investment, and its focus on the projects that matter most to those in Mid Worcestershire. I know that many of my constituents rely on local transport connections every day, and it is essential that we get the investment we need to keep us moving here in Mid Worcestershire.
