The government has said it must cut its spending and that such cuts will affect transport too. According to government forecasts, by 2015 total government spending on transport will fall to £19,280 million. That is more than the government spent last year (£19,110 million). It does not appear to be much of a cut.
But what about spending in real terms I hear you ask? Well in five years time the government transport bill will be higher than that of four years’ ago. So spending in real terms in 2015 will be greater than it was in 2006.
Hang on, the economy will be growing, albeit slowly, so how does transport spending in 2015 compare with in the past? Well in 2015 transport spending by government of all levels in Britain will be 1.01% of GDP. This will bring us back to the same position that we were in in 2004.
I had got the impression from the media that we were being taken back to Victorian times – but not a bit of it.
The “correction”, in transport at least, is purely taking us back to a few years ago.
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