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News Release

Leeds

Autumn Statement - Announcement on rail electrification projects and regional spending powers for transport


LEEDS, 25 November 2015 - In response to the Autumn Statement, Jeff Pearey, Lead Director of JLL's North East office says: “While the omission of investment in a high-speed connection across the north comes as disappointing news, the Chancellor’s announcement of an increase in transport capital spending which he says will allow the electrification of the Trans-Pennine route to go ahead is welcome, especially given the length of time this project has been discussed.

“Businesses banging the drum for the government to stump up infrastructure spend may have started to sound boring, but it illustrates how imperative it is to the fabric of the economy.

“A robust timetable that outlines a strong commitment as to when this will be delivered is now what we need to see.

“Increasing the capital that Transport for the North is responsible for is also a further step in the right direction for devolvement away from Westminster. With infrastructure in the north a crucial part of its economic prosperity it makes sense for further decision-making powers surrounding transport to reside here.”