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£1.6bn transport schemes hit a red light in review of spending

Transport projects worth a total of £1.6 billion, including bypasses, bridges and metro systems, are under threat after the Government announced yesterday that it was suspending all schemes not already under contract.

Privately funded stations proposed

Private firms could be encouraged to fund stations along the route of a proposed high-speed rail line, Transport Secretary Philip Hammond has said. Carriages and interchanges could also be privately financed, Mr Hammond indicated in a Commons written answer.

Crossrail project essential, claims Chamber of Commerce

London businesses have made a plea to government ahead of the emergency budget to strike a delicate balance between cutting the UK's deficit whilst avoiding measures that could jeopardise the competitiveness of the capital.

Friday, 11 June 2010

BBC News

Financial Times

  • Hammond blocks scores of local transport plans Local authorities around England have been told to stop spending on scores of transport projects approved under the previous government, after the Department for Transport suspended permission for schemes expected to cost £1.6bn, writes Robert Wright . Philip Hammond, transport secretary, told the Commons he was suspending approval for all schemes where contracts had not yet been awarded, pending the spending review and changes to rules on prioritising projects.

The Guardian

  • Conservative pledge to protect frontline services in doubt as cuts revealed Quangos, transport and local authorities are hit, and grants to schemes for young people reduced
  • Halfords shares rise 8% as cheap transport thrivesShares in Halfords, the car parts and bicycle retailer, jumped 8%, after pound-stretched consumers looked for cheaper ways of transport, helping push full-year sales up 4.6%.
  • BA boss Walsh turns down bonusBA chief executive spurns £344,000 after BA's record loss and costly disputeBritish Airways' boss, Willie Walsh, has turned down a bonus worth £344,000 following record losses at the airline and a costly industrial dispute with cabin crew.BA said Walsh could have earned the amount in deferred shares under the long-term incentive scheme but for the second year running the chief executive had turned down a bonus. The airline said:

The Herald

  • Wheels come off for rogue bus operators Bus companies in the west of Scotland are facing tough new regulations that will force them to invest in new, less-polluting vehicles and stick to timetables or facing losing lucrative urban routes. Strathclyde Partnership for Transport (SPT), the council-run transport body, is today expected to approve Scotland’s first legally enforceable contract, which aims to weed out rogue operators and drive up standards for passengers.
  • Souter adds to portfolio with Nutrafeed dealStagecoach founder Brian Souter has paid more than £2 million to acquire a company which recycles food waste from supermarkets and food and drink manufacturers for use as animal feed and thus helps reduce landfill disposal.
  • British Airways chief Willie Walsh turns down six-figure shares bonusBritish Airways™ chief executive Willie Walsh has turned down a six-figure bonus for a second year as the carrier struggles with losses and a series of strikes by cabin crew.
  • Maersk North Sea profits decimated as oil prices tumbleProfits plunged by 99% last year at the North Sea business owned by AP Moller-Maersk, the Danish shipping giant, as falling oil prices took a heavy toll.

The Scotsman

The Telegraph

Times Online

  • £1.6bn transport schemes hit a red light in review of spendingTransport projects worth a total of £1.6 billion, including bypasses, bridges and metro systems, are under threat after the Government announced yesterday that it was suspending all schemes not already under contract.
  • BA chief™s bonus gets harmony linkWillie Walsh, the chief executive of British Airways, has turned down a £334,000 bonus, but his performance-related pay could rise this year if he can improve the industrial relations of the strike-hit airline.

Press Association

  • Privately funded stations proposed Private firms could be encouraged to fund stations along the route of a proposed high-speed rail line, Transport Secretary Philip Hammond has said. Carriages and interchanges could also be privately financed, Mr Hammond indicated in a Commons written answer.

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Campaign for Better Transport

  • Transport cuts should be smarter10 June: The Government has announced plans for reducing local authority grants and it's bad news for public transport. read more

Transport for London

Green Miscellany

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News from Europe

  • How Can Germany's High-Speed Trains Get Back on Track?German ICE trains still underperform their zappy French TGV counterparts. Deutsche Bahn hopes its new high-speed train will improve Germany's record -- but old tracks and complex networks may put the brakes on the plan.
  • Call for EU rules on body scanners The European Commission is to make another push for EU-wide rules on the use of body scanners in airports.
  • EU promotes ’green jobs’ as way out of crisis Plans to create a generation of 'green' jobs will involve low-skilled as well as high-skilled workers, and could therefore play a key social function in addressing Europe's unemployment crisis, EU officials and MEPs told a Brussels conference yesterday
  • EU sets tight biofuel standards BRUSSELS — The European Union's top energy official set out tough standards for producing biofuels sold in the EU, demanding producers meet strict environmental criteria.
  • EU Backing for Electric VehiclesMeeting through the Competitiveness Council, Trade and Industry Ministers from EU nations have agreed a new European Strategy on Clean Air and Energy Efficient Vehicles.

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