Transport authorities set out multiple benefits of funding buses, as election looms

Buses have lost £500m from six funding streams despite the economic benefits, says PTEG

Buses have lost £500m from six funding streams despite the economic benefits, says PTEG

The Passenger Transport Executive Group today pitch for extra funding for bus services, given that £500m has been lost to the sector in the last four years, despite them delivering five times more benefits than costs.

PTEG's report that the bus is key to achieving 46 Whitehall policy goals, and generate over £2.5bn in economic benefits against public funding of £500m. But funding, including from local government, is under further pressure and also "mired in complexity," with "no oversight of how various funding streams impact on bus services overall".

The Bus Service Operator Grant should be placed into a new 'connectivity fund' with an additional £500m, the report recommends, to deliver increases in connectivity. Without this, labour markets will further shrink, access to higher education will reduce, town centre economies will decline and there will public health impacts and increased congestion, the report claims.