Autumn Statement 2015: Northern Infrastructure Commitments Welcome

Autumn Statement 2015: Northern Infrastructure

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.

Also on KPMG.com

At £13bn over a fifth of the £61bn national spend on transport

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.”

 

ENDS

 

For press enquiries, please contact:

Alison Anderson, KPMG Corporate Communications

Mobile: +44(0)77 3345 3065

Email: alison.anderson@kpmg.co.uk

Twitter: @kpmguk and join the debate #autumnstatement

KPMG Press Office:

Tel: +44 (0) 207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG’s new-look website