TfGM welcomes major transport funding announcement

Transport for Greater Manchester (TfGM) has welcomed confirmation of the first tranche of a major long-term deal with the Government that will pump more than £350m into Greater Manchester’s transport network over the next five years.

The Deputy Prime Minister, the Rt Hon Nick Clegg MP, today announced that, as part of Greater Manchester’s wider Growth Deal package, it has been successful in securing £50 million of transport investment from the Local Growth Fund (LGF) for 2015/16.

It is the first part of a longer-term deal with Greater Manchester that will result in more than £350 million invested in 12 major transport schemes between 2015/16 and 2020/21, including new transport interchanges, new roads, new bus priority measures and more trams for Metrolink.

Greater Manchester is already set to receive £110 million of Local Transport Block money (agreed in December 2013) and, under the deal announced today, an additional £154 million of LGF money will be provided between 2016/17 and 2020/21.

This funding unlocks a further £37 million of local match-funding over the same period, and supports hundreds of millions of pounds worth of wider economic regeneration across a number of key centres in Greater Manchester.

The deal also signals progress on exploring new ways of managing Greater Manchester’s highways and bus networks.

Dr Jon Lamonte, Chief Executive of Transport for Greater Manchester, said: “Today’s announcement is a huge validation of all the great things we are already achieving in Greater Manchester, and puts us on a very firm footing for the future.

“It clearly acknowledges our proven track record of delivering major transformational projects, on time and on budget, that have economic, social, health and environmental benefits at their very core: from the Metrolink expansion, to award-winning transport facilities and low-carbon initiatives.

“TfGM and Greater Manchester Combined Authority have long recognised the strong connection between an efficient, effective transport network and sustained economic growth: this major funding agreement allows us to continue the evolution of that process and take it to the next level.

“Together with our local authority colleagues, we will now start progressing the schemes and initiatives which have been granted funding today.”

Councillor Andrew Fender, Chair of the Transport for Greater Manchester Committee, said: “The success of our bid to government is testament to the compelling case we put forward and a clear symbol of just how important a healthy Greater Manchester economy now is to the nation as a whole.

“We have the fastest growing economy outside London and, having built up to that over time, it is now essential for us to sustain that position.

“With that comes the significant challenge of making sure our road and public transport networks have the capacity to support the accompanying, and ever-increasing, travel demands both now and long into the future.

“That’s why meaningful transport investment is a cornerstone of achieving Greater Manchester’s exciting ambitions. It is a crucial part of the jigsaw and I am delighted that the government has reaffirmed that so emphatically today.

“It is equally important for us to have the authority and controls required to make our networks work as effectively as possible for businesses, for passengers and for communities and, again, it is very pleasing to see the government unlocking the door to a fresh conversation in this regard.”