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Pension value eases Nexus budget gloom

Public Transport

22 November 2019
 

Nexus, the Tyne and Wear Passenger Transport Executive, has reported an improved financial position just weeks after reporting a worsening picture. The improvement could enable the PTE to commission the Metro Futures study, looking at options to expand the Metro and local rail networks. 

Councillors last month heard that the organisation was on course to record a £4.4m deficit in 2019/20, with deficits for future years forecast to be £2.4m in 2020/21, £6m in 2021/22, and...

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