The Welsh Government has decided to give its Transport for Wales company a five-year capital allocation for transport infrastructure.

 

At the National Assembly for Wales on Tuesday last week, Welsh transport secretary Ken Skates said: 'For the first time, we have committed to a five-year programme of transport capital funding through Transport for Wales for both transport maintenance and new projects.

 

'This will ensure that these projects will be delivered in the most efficient and effective way, and with a headline target of driving 15% to 20% efficiencies across the five-year investment portfolio for new projects, which means we can make our funding deliver even more.

 

'This will also enable the construction supply chain to invest with confidence in the future, in terms of both capital and skills.'

 

He said the Government would seek to consolidate current supply arrangements directly into TfW.

 

'In terms of the actual quantum that could be saved, taking the 2018-19 draft published budget figures for transport capital over the next three years as an average annual spend, over a 10-year period that could amount to something in the region of £630m – a huge saving that can then lead to greater investment in the improvement of our transport infrastructure and service delivery.'

 

There are no details yet of how much funding will be allocated for the first five-year period, or when that will commence.

 

Source: https://www.transport-network.co.uk/First-ever-five-year-capital-funding-plan-for-Welsh-transport/14769