The draft regulatory impact assessment (RIA) for the Concessionary Bus Travel Bill was published simultaneously with the Bill, which was introduced on 27 November 2006. It will be updated as appropriate. The RIA is available on the Department for Transport’s website at:
The Government have indicated they will provide up to an extra £250 million of funding per year for the national bus travel concession. Following the introduction of the new concession, the Government will be providing approximately £1 billion a year for concessionary bus travel, and are confident that this will be sufficient to cover the total cost.
The Department for Transport, in discussions with the Department for Communities and Local Government and Her Majesty’s Treasury, is looking at a number of options for distributing the existing and future funding for providing the statutory concession.