| Last Updated Sunday 26th April 2009 |
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BUDGET GIVES METRO FUNDING SETBACK Last weeks budget given by Alistair Darling contained a setback for plans to fund extensions to Midland Metro. It had been hoped that the West Midlands would be chosen as pilot area for “Accelerated Development Zones” which would have allowed local Councils to get loans based on projected business rates. However, in the budget it was announced that the pilot projects would be in Manchester and Leeds.
It was planned that £252 million would have been borrowed to help fund the Wednesbury to Brierley Hill extension of Midland Metro. Other transport projects totalling up to £1 billion would also have been funded through these loans.
Simon Murphy, City Regions Project Manager, said: “It is a disappointment for us. However, in terms of the transport projects we are looking at, the budget has still allowed for talks about different ways of financing in the run up to the pre-budget report in November.”
Source: Wolverhampton Express & Star
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