The Government’s new National Roads Fund will be worth £28.8bn in its first five years (2020/21-2024/25), the Treasury has announced.
The fund will be created by hypothecating Vehicle Excise Duty in England.
The £28.8bn is a nominal value (i.e. unadjusted for inflation). Of this, the Government expects to allocate £25.3bn to Highways England. A DfT spokeswoman told LTT the remaining £3.5bn would be “for the most important local roads, which would...
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