The Institute for Fiscal Studies (IFS) has warned that transport spending in the UK is set to fall by £10.8 billion over the next two years, sparking concerns over the impact on road maintenance and public transport. According to the IFS, the reduction in spending is due to a combination of factors, including a decline in government funding and rising costs associated with projects such as High Speed 2.
The IFS report also highlights the potential impact of the spending cuts on road maintenance and public transport. The organisation warns that the reduction in spending could lead to a decline in the condition of roads, increasing the risk of accidents and congestion. Additionally, the IFS suggests that the cuts could lead to reduced services and increased fares for public transport users.
The Department for Transport has responded to the IFS report by stating that the Government is committed to investing in transport infrastructure and improving the condition of roads. The Department also pointed out that the Government has allocated £27.4 billion for transport spending in 2023-24, which is a 6.4% increase on the previous year's budget.
However, the opposition parties have criticised the Government's handling of transport spending. The Labour Party's Shadow Secretary of State for Transport, Louise Haigh, said: 'The Government's transport spending plans are a recipe for disaster. They will lead to a decline in the condition of our roads and a reduction in public transport services.'
The Liberal Democrats have also expressed concerns over the impact of the spending cuts on transport users. The party's transport spokesperson, Daisy Cooper, said: 'The Liberal Democrats are deeply concerned about the impact of these cuts on vulnerable transport users, including the elderly and those with disabilities.'
The IFS report highlights the need for the Government to re-evaluate its transport spending priorities and ensure that the most vulnerable groups are protected from the impact of the spending cuts.