Latest news with #AndrewMatthews
Glasgow Times
a day ago
- Business
- Glasgow Times
Reeves to announce £15bn for transport outside London ahead of spending review
The £15.6 billion package for mayoral authorities is expected to include funding to extend the metros in Tyne and Wear, Greater Manchester and the West Midlands, along with a renewed tram network in South Yorkshire and a new mass transit systems in West Yorkshire. Announcing the investment in a speech in Manchester on Wednesday, the Chancellor will argue that Britain 'cannot rely on a handful of places forging ahead of the rest of the country' and champion a 'new economic model – driven by investment in all parts of the country'. Transport Secretary Heidi Alexander said the funding marked a 'watershed moment' in improving transport in the North and Midlands (Andrew Matthews/PA) She is also expected to confirm that next week's spending review will include changes to the rules in the Treasury's Green Book that determine whether projects receive funding. Green Book rules have been criticised in some quarters for favouring investment in London and the South East, with Labour MP Jeevun Sandher, a member of the Commons Treasury Committee, saying in April it had a 'hardwired London bias'. Ms Reeves is expected to argue that changing the rules will ensure the Government 'gives every region a fair hearing when it comes to investments'. But it will also mean more money for areas of the North and Midlands, including the so-called 'Red Wall', where Labour MPs face an electoral challenge from Reform UK. The investment announced on Wednesday includes £2.4 billion for the West Midlands to fund an extension of the region's metro from Birmingham city centre to the new sports quarter, and £2.1 billion to start building West Yorkshire Mass Transit by 2028. Greater Manchester will receive £2.5 billion for projects including new tram stops in Bury, Manchester and Oldham and an extension of the tram network to Stockport. A £1.5 billion investment in South Yorkshire will include £530 million to renew the region's trams, while the East Midlands will receive £2 billion to design a new mass transit system between Derby and Nottingham. Chancellor Rachel Reeves on a train travelling to Wolverhampton (Stefan Rousseau/PA) In the south, the West of England will receive £800 million, including £200 million to develop mass transit links between Bristol, Bath, South Gloucestershire and north Somerset. Transport Secretary Heidi Alexander said the announcement 'marks a watershed moment on our journey to improving transport across the North and Midlands – opening up access to jobs, growing the economy and driving up quality of life'. Some projects being backed on Wednesday, such as the development of a mass transit network in West Yorkshire, formed part of Rishi Sunak's 'Network North' plan intended to compensate for the decision to scrap the HS2 line north of Birmingham. After coming to power last July, Labour launched a review of those projects, arguing they had not been fully funded. Wednesday's announcement is the first from the spending review due on June 11 that will set out the Government's day-to-day departmental budgets for the next three years and investment budgets for the next four. The review is expected to be a difficult one for the Government, with the Institute for Fiscal Studies saying the Chancellor faces 'unavoidably tough decisions' as the demands of NHS and defence spending raise the prospect of cuts in other departments.
South Wales Argus
a day ago
- Business
- South Wales Argus
Reeves to announce £15bn for transport outside London ahead of spending review
The £15.6 billion package for mayoral authorities is expected to include funding to extend the metros in Tyne and Wear, Greater Manchester and the West Midlands, along with a renewed tram network in South Yorkshire and a new mass transit systems in West Yorkshire. Announcing the investment in a speech in Manchester on Wednesday, the Chancellor will argue that Britain 'cannot rely on a handful of places forging ahead of the rest of the country' and champion a 'new economic model – driven by investment in all parts of the country'. Transport Secretary Heidi Alexander said the funding marked a 'watershed moment' in improving transport in the North and Midlands (Andrew Matthews/PA) She is also expected to confirm that next week's spending review will include changes to the rules in the Treasury's Green Book that determine whether projects receive funding. Green Book rules have been criticised in some quarters for favouring investment in London and the South East, with Labour MP Jeevun Sandher, a member of the Commons Treasury Committee, saying in April it had a 'hardwired London bias'. Ms Reeves is expected to argue that changing the rules will ensure the Government 'gives every region a fair hearing when it comes to investments'. But it will also mean more money for areas of the North and Midlands, including the so-called 'Red Wall', where Labour MPs face an electoral challenge from Reform UK. The investment announced on Wednesday includes £2.4 billion for the West Midlands to fund an extension of the region's metro from Birmingham city centre to the new sports quarter, and £2.1 billion to start building West Yorkshire Mass Transit by 2028. Greater Manchester will receive £2.5 billion for projects including new tram stops in Bury, Manchester and Oldham and an extension of the tram network to Stockport. A £1.5 billion investment in South Yorkshire will include £530 million to renew the region's trams, while the East Midlands will receive £2 billion to design a new mass transit system between Derby and Nottingham. Chancellor Rachel Reeves on a train travelling to Wolverhampton (Stefan Rousseau/PA) In the south, the West of England will receive £800 million, including £200 million to develop mass transit links between Bristol, Bath, South Gloucestershire and north Somerset. Transport Secretary Heidi Alexander said the announcement 'marks a watershed moment on our journey to improving transport across the North and Midlands – opening up access to jobs, growing the economy and driving up quality of life'. Some projects being backed on Wednesday, such as the development of a mass transit network in West Yorkshire, formed part of Rishi Sunak's 'Network North' plan intended to compensate for the decision to scrap the HS2 line north of Birmingham. After coming to power last July, Labour launched a review of those projects, arguing they had not been fully funded. Wednesday's announcement is the first from the spending review due on June 11 that will set out the Government's day-to-day departmental budgets for the next three years and investment budgets for the next four. The review is expected to be a difficult one for the Government, with the Institute for Fiscal Studies saying the Chancellor faces 'unavoidably tough decisions' as the demands of NHS and defence spending raise the prospect of cuts in other departments.
Western Telegraph
a day ago
- Business
- Western Telegraph
Reeves to announce £15bn for transport outside London ahead of spending review
The £15.6 billion package for mayoral authorities is expected to include funding to extend the metros in Tyne and Wear, Greater Manchester and the West Midlands, along with a renewed tram network in South Yorkshire and a new mass transit systems in West Yorkshire. Announcing the investment in a speech in Manchester on Wednesday, the Chancellor will argue that Britain 'cannot rely on a handful of places forging ahead of the rest of the country' and champion a 'new economic model – driven by investment in all parts of the country'. Transport Secretary Heidi Alexander said the funding marked a 'watershed moment' in improving transport in the North and Midlands (Andrew Matthews/PA) She is also expected to confirm that next week's spending review will include changes to the rules in the Treasury's Green Book that determine whether projects receive funding. Green Book rules have been criticised in some quarters for favouring investment in London and the South East, with Labour MP Jeevun Sandher, a member of the Commons Treasury Committee, saying in April it had a 'hardwired London bias'. Ms Reeves is expected to argue that changing the rules will ensure the Government 'gives every region a fair hearing when it comes to investments'. But it will also mean more money for areas of the North and Midlands, including the so-called 'Red Wall', where Labour MPs face an electoral challenge from Reform UK. The investment announced on Wednesday includes £2.4 billion for the West Midlands to fund an extension of the region's metro from Birmingham city centre to the new sports quarter, and £2.1 billion to start building West Yorkshire Mass Transit by 2028. Greater Manchester will receive £2.5 billion for projects including new tram stops in Bury, Manchester and Oldham and an extension of the tram network to Stockport. A £1.5 billion investment in South Yorkshire will include £530 million to renew the region's trams, while the East Midlands will receive £2 billion to design a new mass transit system between Derby and Nottingham. Chancellor Rachel Reeves on a train travelling to Wolverhampton (Stefan Rousseau/PA) In the south, the West of England will receive £800 million, including £200 million to develop mass transit links between Bristol, Bath, South Gloucestershire and north Somerset. Transport Secretary Heidi Alexander said the announcement 'marks a watershed moment on our journey to improving transport across the North and Midlands – opening up access to jobs, growing the economy and driving up quality of life'. Some projects being backed on Wednesday, such as the development of a mass transit network in West Yorkshire, formed part of Rishi Sunak's 'Network North' plan intended to compensate for the decision to scrap the HS2 line north of Birmingham. After coming to power last July, Labour launched a review of those projects, arguing they had not been fully funded. Wednesday's announcement is the first from the spending review due on June 11 that will set out the Government's day-to-day departmental budgets for the next three years and investment budgets for the next four. The review is expected to be a difficult one for the Government, with the Institute for Fiscal Studies saying the Chancellor faces 'unavoidably tough decisions' as the demands of NHS and defence spending raise the prospect of cuts in other departments.
South Wales Argus
28-05-2025
- Business
- South Wales Argus
Minister hails ‘remarkable turnaround' of renationalised train operator
Lord Hendy described TransPennine Express (TPE) as 'the blueprint for Great British Railways (GBR)'. The Labour Government began renationalising all remaining franchised train operators in Britain on Sunday, by bringing South Western Railway under public control. The process is scheduled to be completed by the end of 2027. Rail minister Lord Hendy (right) said 'these impressive results demonstrate what happens when we put passengers and communities first' (Andrew Matthews/PA) TPE, which runs trains across northern England and into Scotland, was renationalised under the Conservative government in May 2023 because of poor performance. Its reliability was badly affected by drivers no longer volunteering to work paid overtime shifts. Britain's train services were privatised in the mid-1990s. Services now under public control are owned by DFTO (Department for Transport Operator) until GBR is established. DFTO said TPE has reduced cancellations by 75% and recorded a 42% growth in passenger journeys over the past two years. It added that the operator generated £1.4 billion in 'economic value' during the 2023/24 financial year. TPE launched an improvement plan in October 2023 which prioritised stabilising operations. Lord Hendy said: 'TransPennine Express's remarkable turnaround shows exactly why we're bringing our railways back into public ownership as part of our plan for change. 'These impressive results demonstrate what happens when we put passengers and communities first rather than private profit. 'This is the blueprint for Great British Railways: a reliable, accessible and value for money railway that serves the public and drives economic growth not only across the North but the whole country.' TPE managing director Chris Jackson said: 'Public ownership gave us the space and stability to reset. 'Our focus has been on people, our passengers, our colleagues and the communities we serve. 'Two years on, we're proud to be delivering a better, more reliable railway for the North.'
Western Telegraph
28-05-2025
- Business
- Western Telegraph
Minister hails ‘remarkable turnaround' of renationalised train operator
Lord Hendy described TransPennine Express (TPE) as 'the blueprint for Great British Railways (GBR)'. The Labour Government began renationalising all remaining franchised train operators in Britain on Sunday, by bringing South Western Railway under public control. The process is scheduled to be completed by the end of 2027. Rail minister Lord Hendy (right) said 'these impressive results demonstrate what happens when we put passengers and communities first' (Andrew Matthews/PA) TPE, which runs trains across northern England and into Scotland, was renationalised under the Conservative government in May 2023 because of poor performance. Its reliability was badly affected by drivers no longer volunteering to work paid overtime shifts. Britain's train services were privatised in the mid-1990s. Services now under public control are owned by DFTO (Department for Transport Operator) until GBR is established. DFTO said TPE has reduced cancellations by 75% and recorded a 42% growth in passenger journeys over the past two years. It added that the operator generated £1.4 billion in 'economic value' during the 2023/24 financial year. TPE launched an improvement plan in October 2023 which prioritised stabilising operations. Lord Hendy said: 'TransPennine Express's remarkable turnaround shows exactly why we're bringing our railways back into public ownership as part of our plan for change. 'These impressive results demonstrate what happens when we put passengers and communities first rather than private profit. 'This is the blueprint for Great British Railways: a reliable, accessible and value for money railway that serves the public and drives economic growth not only across the North but the whole country.' TPE managing director Chris Jackson said: 'Public ownership gave us the space and stability to reset. 'Our focus has been on people, our passengers, our colleagues and the communities we serve. 'Two years on, we're proud to be delivering a better, more reliable railway for the North.'
