Funding allocations for future local major transport projects.
Further to my statement to the House of 23 January 2013 I am today (16 July 2013) confirming to local transport bodies (LTBs) the funding allocations for local major transport projects from 2015. These are set out below and reflect decisions taken by ministers in Department for Transport and the Treasury.
The funding that the government is allocating today (16 July 2013) is only one element of over £12 billion being made available to Local Enterprise Partnership (LEP) areas between 2015/16 and 2020/21 through the single Local Growth Fund, details of which were announced in a statement by the Chief Secretary to the Treasury on 27th June 2013.
Later this month, local transport bodies are expected to publish details of their prioritised schemes to be taken forward from 2015.
We would expect that those LEP areas that make a good case for further transport investment through their strategic economic plans will receive additional funding from the competitive elements of the Local Growth Fund. Decisions on that will be made following Growth Deal negotiations with the government.
In order to maximise the competitive funding available to LEPs for transport and other projects and programmes within the Local Growth Fund, most LTBs receive confirmed allocations for 4 years at a level one third below the indicative numbers provided in January 2013. This is within the range of scenarios that the department asked LTBs to consider at that stage.
Those LTBs/LEPs where the principle of 10-year funding has been agreed through city deals receive confirmed allocations for 6 years at the annual level indicated in January 2013. They also receive an indicative funding allocation for a further 4 years beyond the confirmed funding levels. This recognises that these LTBs are expected to be further ahead than others in strengthening their local decision making arrangements and the previous consideration of transport needs alongside other priorities in city deal discussions.
In addition to the funding allocations announced today, the funding for existing DfT-approved Local Authority Major schemes will also flow nominally through the Local Growth Fund and we will need to ensure that any delay to these projects does not impact on the total funding available to LEPs on a competitive basis. We will confirm the detailed mechanisms for how this will work at a later date but the key principle is that this element of the funding is dependent on the schemes going ahead as planned.
Confirmed allocations for local transport bodies
|Local transport body||Confrmed funding from 2015/16 to 2020/21 inclusive (£m)||Indicative funding from 2021/22 to 2024/25 inclusive (£m)|
|West of England||44.9||36.4|
|West Yorkshire and York||100.9||81.8|
|Sheffield City region||62.7||50.9|
|Local transport body||Confrmed funding from 2015/16 to 2018/19 inclusive (£m)|
|Buckinghamshire Thames Valley||8.3|
|Cheshire and Warrington||14.5|
|Coast to Capital||24.2|
|Cornwall and the Isles of Scilly||8.9|
|Coventry and Warwickshire||14.3|
|Derby, Derbyshire, Nottingham and Nottinghamshire||31.2|
|Greater Birmingham and Solihull||23.9|
|Greater Cambridge Greater Peterborough||14.1|
|Heart of the South West||27.1|
|Leicester and Leicestershire||16.1|
|Liverpool City region||23.7|
|South East Midlands||14.7|
|Stoke-on-Trent and Staffordshire||16.3|
|Swindon and Wiltshire||11.3|
|Thames Valley Berkshire||14.5|
Note: The allocation for Lancashire will be confirmed upon the agreement of the Preston City Deal.