A new £1bn Structures Fund has been created to ‘enhance and repair’ run down transport infrastructure in the UK, including £590m for the Lower Thames Crossing (LTC).
As part of the new 10 Year Infrastructure Strategy that is expected to be published later this week, this new fund will help address the increasing number of bridges at risk of collapse, along with tunnels, flyovers and other transport infrastructure.
Across Great Britain around 3,000 bridges are currently thought to be unable to support the heaviest vehicles.
The fund also includes £590m for the LTC, leaving £410m to cover any other projects taking place over the 10-year duration of the fund.
Treasury officials said the Government will 'set out more detail about how the [new structures] funding will be allocated shortly'.
The Treasury has also stated that this £1bn will be ‘in addition to the funding local authorities will receive for highway maintenance’. However, the allocation of this is also still to be clarified.
Chancellor, Rachel Reeves, said: ‘We’re going all in by going up against the painful disruption of closed bridges, crossings and flyovers, and ensure they’re fit to serve working people for decades to come.
‘Today’s investment also goes even further and faster to spread growth by providing critical funding to take forward the Lower Thames Crossing – not just boosting connectivity in the South East, but ensuring a smoother, less congested passage of vital goods from Europe to our regions.’
Transport secretary, Heidi Alexander, added: ‘We’re finally getting on with the Lower Thames Crossing — a crucial project to drive economic growth, that has been stuck in planning limbo for far too long.
‘Our structures fund will make long-overdue investments to repair ageing structures across the country, speeding up journeys, restoring pride and delivering our Plan for Change to boost the economy and support regional growth.’
Ms Alexander told reporters that ministers 'need to work through the details of how the Structures Fund is going to operate' but raised the prospect it could be used to re-open the iconic Hammersmith Bridge to motor traffic - the cost of which could run past £250m.
'We are also going to have to look at the criteria of that fund, whether there needs to be local contribution from the asset owner, whether there is a clear and costed plan for work and whether there is a clear delivery path.'
The cash follows a 'record' £15.6bn cash injection for local infrastructure projects announced at the Spending Review.
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