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Local Transport update
26 February 2024
Type
Written Ministerial Statement
Department
Department for Transport
At a Glance
Issue Summary
The statement announces details of a new £4.7 billion Local Transport Fund for transport improvements in the North and Midlands, replacing funding originally allocated to HS2 phase 2.
Action Requested
Local authorities are required to consult with their local MPs before spending the new funds, which will be available from next year. Local authorities must develop delivery plans by Autumn 2024 for projects funded by this fund starting April 2025.
Key Facts
- £4.7 billion dedicated to the Local Transport Fund.
- £19.8 billion and £9.6 billion committed respectively to the North and Midlands.
- £2.5 billion will go to the North and £2.2 billion to the Midlands over seven years (2025-2032).
- An additional £8.5 billion increase to City Region Sustainable Transport Settlements from HS2 savings.
- Local authorities must develop delivery plans by Autumn 2024 for projects funded by April 2025.
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