UK Chancellor cancels transport projects

The remains of Marchwood station in Hampshire on the Fawley branch geograph uk and ireland 5262456

Rachel Reeves, the newly appointed Chancellor of the Exchequer in the UK, has made a torrid and frequently interrupted speech to the House of Commons. The reason for her speech was the publication of a financial review, which she commissioned on her first day in government. The body of the report, said the Chancellor, laid out a list of significant funding shortfalls. She said that the bottom line was an immediate debt of £22bn (€25.7bn) which she claimed was the wilful act of the previous government. She made clear that cuts would be needed across the board, including high-profile transport infrastructure projects.

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Author: Simon Walton

Simon Walton is UK correspondent for RailTech.com and Railfreight.com

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UK Chancellor cancels transport projects | RailTech.com

UK Chancellor cancels transport projects

The remains of Marchwood station in Hampshire on the Fawley branch geograph uk and ireland 5262456

Rachel Reeves, the newly appointed Chancellor of the Exchequer in the UK, has made a torrid and frequently interrupted speech to the House of Commons. The reason for her speech was the publication of a financial review, which she commissioned on her first day in government. The body of the report, said the Chancellor, laid out a list of significant funding shortfalls. She said that the bottom line was an immediate debt of £22bn (€25.7bn) which she claimed was the wilful act of the previous government. She made clear that cuts would be needed across the board, including high-profile transport infrastructure projects.

Want to read more?

Subscribe now!

Take advantage of our exclusive offer to get full access to all premium content.

See the offer

Author: Simon Walton

Simon Walton is UK correspondent for RailTech.com and Railfreight.com

Add your comment

characters remaining.

Log in through one of the following social media partners to comment.