UK to Fund Transport Projects
The UK Transport Minister, Geoff Hoon, confirmed the government plans to inject an extra £1 billion into major transport projects next year. According to the Department for Transport (DfT) statement, the investment is being made, “In order to stimulate the economy by accelerating Government plans to cut congestion and significantly increase rail capacity.”
This extra £1 billion, to be spent on road and rail schemes, is in addition to the overall £10 billion for 2009-2014 already pledged by the transport minister in July 2007 to increase rail capacity. Other major long-term rail projects include the massive London Crossrail scheme, the £5.5 billion Thameslink program and an additional £600 million to tackle congestion.
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