At £13bn over a fifth of the £61bn national spend on transport is earmarked for Transport for the North. This is a seriously large number and as the Chancellor didn’t dally for detail I’m keen to learn how this will be spent.
Reacting to the Chancellor’s speech Autumn Statement, KPMG’s North Region Chair, Chris Hearld, says:
“At £13bn over a fifth of the £61bn national spend on transport is earmarked for Transport for the North. This is a seriously large number and as the Chancellor didn’t dally for detail I’m keen to learn how this will be spent.
“The key infrastructure prize, of electrification of the Trans Pennine Rail link, was pre-announced. It is to be hoped this upgrade will deliver real journey time improvements that genuinely boost the North’s East-West connectivity.
“Learning that HS2 is to begin construction is excellent news given the economic boost it will bring Northern cities through improved connectivity. And exploring the role of smart ticketing also promises to help oil the wheels of a more modern, integrated rail network.
“Entrepreneurialism across the region stands to benefit from a £400m Northern Investment fund, building on the Jeremie Funds.
“Then we get into the very welcome more modest giveaways: £1m for Hull to support its City of Culture status in 2017 and funding the North’s Rugby League World Cup Bid. These and a Great North Exhibition give business a boost.
“It’s a £13bn sized wait and see from me.”
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