Big tax rises and spending cuts on the horizon
The £2 bus fare cap and plans to build new roads could be on the chopping block as Chancellor Rachel Reeves prepares for significant tax rises and spending cuts in her upcoming October Budget. This move comes after Labour highlighted a £22 billion shortfall in the nation's finances, prompting a reevaluation of government spending priorities.
Transport projects at risk of being axed
Former Prime Minister Rishi Sunak's initiative to extend the £2 bus fare cap until the end of the year and embark on a road building spree may be abandoned, according to government insiders. With Labour's focus primarily on rail and trains, road infrastructure and bus fares are reportedly in jeopardy of being sidelined in the budget reallocation.
Potential changes to fuel duty and car road tax
In addition to scrapping transport projects, there are concerns that fuel duty could see its first increase in over a decade. Furthermore, there is speculation that Labour might introduce a pay-per-mile car road tax as part of their efforts to address the nation's financial challenges.
Government's commitment to public transport
Transport Minister Simon Lightwood emphasized the government's dedication to providing reliable and affordable public transport services, citing their importance for passengers and local economic growth. The government is exploring cost-effective strategies to ensure the sustainability of public transport services while navigating the current financial constraints.
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