SPENDING REVIEW 2015: Spending on building new transport infrastructure is to rise by 50% over the next five years to £61bn, the chancellor has revealed.
George Osborne unveiled a package of new transport capital projects as part of the Comprehensive Spending Review including funding for Crossrail 2, High Speed 3, rail electrification projects and cash to improve transport links within the northern powerhouse.
Construction of HS2 will begin during this Parliament, with a £55.7bn budget to deliver the London to Birmingham stretch by 2026 and Leeds to Manchester line by 2033.
The electrification of lines will include the Trans-Pennine, Midlands Main Line and Great Western.
Overall, £11bn will be invested in a series of projects in London, while the single largest capital project will be the high speed rail line connecting London, Birmingham and the North.
The chancellor also announced a £300m commitment to cycling and more than £5bn for roads maintenance.
At the same time the Department for Transport’s operational budget will be slashed by 37%.
