Date: 17/03/2016

UK: Funding allocations for a number of railway projects were set out in the budget presented to parliament by Chancellor of the Exchequer George Osborne on March 16. Following recommendations by the National Infrastructure Commission, Osborne said the government would back the High Speed 3 and Crossrail 2 schemes. It has allocated £60m for the development by 2017 of proposals for improved links between cities in northern England, including the High Speed 3 concept of improving Leeds “ Manchester links to cut the journey time from 50 min to around 30 min. The government is to provide £80m to support planning for Crossrail 2, with Transport for London asked to match this. The aim is to deposit a hybrid bill for the southwest “ northeast cross-London link by the end of the current parliament in 2020. The government backs the NICs recommendations that proposals should be developed for significantly reducing and phasing the costs, and a financing package developed whereby London would fund more than half the cost of the project.

External links

Rail in the 2016 UK budget

Railway Gazette

UK: Funding allocations for a number of railway projects were set out in the budget presented to parliament by Chancellor of the Exchequer George Osborne on March 16. Following recommendations by the National Infrastructure Commission, Osborne said the government would back the High Speed 3 and Crossrail 2 schemes. ...