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Regular news: Issue 491 3 Apr 2008

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Nexus secures Metro funding

The DfT has reached agreement with Nexus, the Tyne and Wear PTE, on the level of grant funding for the Tyne and Wear Metro for the next two years. Nexus will receive grant of £27m in 2008/09 and, provisionally, £27.8m in 2009/10. The payments include revenue support of £19.9m (2008/09) and £20.7m (2009/10), covering 81% of the Metro's operating deficit. The capital grant for each year is £7.1m but the Department may increase the 2009/10 payment once an assessment of Nexus's £21.2m Metro...

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