Secretary of State for Transport Rt Hon Heidi Alexander MP yesterday introduced the Highways (Financing) Bill to Parliament.
The Bill makes provision for licences authorising the charging of tolls in return for securing works on trunk roads in England; about the functions of holders of licences; about enforcement; for a special administration regime for holders of licences; about the collection and enforcement of tolls charged under other Acts; and for connected purposes.
When enacted, the Bill will enable private investment into the construction of major road projects, such as the Lower Thames Crossing through a new Regulated Asset Base (RAB) funding model. It will enable the delivery of vital road schemes at pace, supporting the UK Government’s commitment to deliver a modern transport network that helps people get to where they need to be more easily and safely, while reducing the financial burden on taxpayers and ensuring strong regulatory oversight to protect the interests of users.
Along with the construction progress being made on site, the introduction of the Bill is, says National Highways, ‘another exciting step forward’ for the £10 billion project.
(Picture: National Highways)
